FILE IRS FORM 990 NOW!
IRS DEADLINE: NOVEMBER 15, 2017
Florida PTA Federal Income Tax 990 Filing Information
As a 501(c)(3) tax-exempt charitable organization, PTAs must file an annual IRS Form 990, informational tax return, at the end of EVERY fiscal year, regardless of income or gross revenue. PTAs are legally classified as “public charities” and are organized and operated exclusively for the exempt purposes recorded in Article II of the PTA bylaws.
Your IRS Form 990 tax return or an extension request, IRS Form 8868, must be filed with the IRS no later than this due date: November 15, 2017.
- Failure to file an IRS 990 return in one year may result in a penalty, late filing fee, and/or the PTA gross receipts for that year may be subject to income tax.
- Failure to file an IRS Form 990 return for three consecutive years will result in the automatic revocation, loss of your 501(c)(3) Federal Income Tax-Exempt status. Even if you file the tax return late, in the third year your status will be automatically be revoked at midnight on the due date of the return (November 15th).
TAX PERIOD – FISCAL YEAR
All PTAs units in Florida should have an IRS Accounting period of July 1st through June 30th. If you find that your filing period was erroneously set up on the calendar year (January to December) instead of the fiscal year, please contact the Florida PTA State Office for assistance to get this corrected. However, do not let the calendar year issue hold up your 2016 990 filing. You still must file before November 15, 2017.
ANNUAL AUDIT – REPORTING GROSS RECEIPTS/INCOME
The annual PTA audit must be completed before filing the annual 990 tax return to determine gross receipts and expenses and which form 990 to file. Gross Receipts/Income, as calculated on the audit, should now be reported to the IRS on Form 990, informational income tax return.
WHICH IRS FORM 990 TO FILE:
How do I file Form 990N (e-Postcard)?
Form 990N can be filed for free at IRS.gov. There is no paper form. Remember gross receipts/income must be normally less than or equal to $50,000.
FORM 990N (e-Postcard) can be accessed and filed at this link:
- Form 990-N electronic-filing system was moved from Urban Institute’s website to IRS.gov on Feb. 29, 2016. ALL ORGANIZATIONS must register at IRS.gov prior to filing their next Form 990-N.
- If your PTA filed the 990N last year and registered your EIN with the IRS; you won’t be asked to register again when you file this year. This is a one-time registration of your EIN.
- Form 990N must be completed and filed electronically. There is no paper form.
- Use the Form 990N Electronic Filing System (e-Postcard) User Guide on the IRS website while registering and filing. Here is the link to the IRS Step-by-Step Guide to file 990N on our website.
How do I file Form 990EZ and Form 990 Filing?
If your PTA’s annual income is greater than $100,000, it is recommended that you have a tax accountant prepare your 990 or 990EZ.
IRS 990 Series Forms and Instructions can be obtained through this link:
Every PTA who files a 990EZ (Short Form) or 990 (Long Form), must prepare at least Schedule A since your association is a 501(c)(3).
- Schedule A, Part III (Public Charity Status and Public Support) usually filed with all 990EZ and 990 forms.
- Schedule B (Schedule of Contributors)
- Schedule G (Supplemental Information Regarding Fundraising or Gaming Activities)
- Schedule M (Non-Cash Contributions) based on questions answered on the 990.
- Schedule O (Supplemental Information to Form 990)
- Form 8283 (Noncash Charitable Contributions)
- 1099-Misc (if a person, not a business had been paid at least $600 for services [including parts and materials] during the calendar year. Please call the state for additional information on the proper way to file this form.
The IRS has made changes to 2016 Schedule A this year. You are required to check #10 in Schedule A, Part 1, Reason for Public Charity Status.
You are also required to complete Schedule A, Part III. If you fail to complete Schedule A, Part III, you will receive an incomplete filing penalty from the IRS.
IMPORTANT FLORIDA PTA COMPLIANCE REQUIREMENT:
Immediately upon filing your 2016 IRS Form 990 or the Form 8868, extension request, you are required to forward a complete copy to the Florida PTA State Office.
- If you file IRS Form 990 or Form 990EZ, forward a complete, signed and dated copy, including all schedules, to the Florida PTA State Office by November 30, 2017. Email to: firstname.lastname@example.org or mail via United Stated Postal Service to: Florida PTA, 1747 Orlando Central Parkway, Orlando, 32809. Fax: 407-240-9577
- If income gross receipts are normally less than $50,000, and you file 990-N (e-Postcard), immediately upon filing acceptance, you are required to forward the IRS proof of filing receipt showing “accepted” status to the Florida PTA Email to: email@example.com or FAX to: 407-240-9577
(Be sure to write your PTA’s name/county on the 990N receipt before forwarding).
FIVE ANNUAL COMPLIANCE REQUIREMENTS:
There are five Florida PTA Compliance Requirements that must be met annually to remain in good standing. Please click this link which provides due dates: https://floridapta.org/wp-content/uploads/2017/08/2017-COMPLIANCE-REQUIREMENTS-AND-STANDARDS-OF-AFFILIATION.pdf
It is important that each local unit keep records for all IRS related correspondence. You can find additional resources on the National PTA website. You can also call Ginger in the Florida PTA State Office at 407-855-7604 x 305 or send questions via email to: firstname.lastname@example.org.