by Ellis Stroup, Dist. Sec./Treas.
The Internal Revenue Service has recently changed the requirements for the filing of the 990 Tax Form by clubs. The Pension Protection Act of 2006 requires clubs to file an annual electronic notice for tax periods beginning after December 31, 2006, if you are not required to file Form 990 (or 990-EZ), Return of Organization Exempt from Income Tax, because your gross receipts are normally $25,000 or less. The Annual Electronic Notice will require the following information:
- Organization's legal name
- Any other names the organization uses
- Organizations mailing address
- Organization's website address (if applicable)
- Organization's employer identification number (EIN)
- Name and address of principle officer of the organization
- Organization's annual tax period
Verify that your organization's gross receipts are still normally $25000 or less and indicate if your organization has terminated (is no longer in business). The annual electronic notice is due by the 15th day of the fifth month after the close of your tax period. For example, if your tax period ends on December 31, 2007, the annual electronic notice is due May 15, 2008. Any questions concerning this filing should be directed to your local IRS office.
