Q) I received a letter stating I owe taxes on a non profit business, I believe I filled out the wrong form… I need to know what form should I fill out for a non profit organization, no money is being made it is just a Group that I put together, such as a social club
A) If you received a letter stating that you owe taxes on a non-profit organization, it is possible that you filled out the wrong form. The form that you should have filled out is Form 990-N, Return of Organization Exempt from Income Tax. This form is used by non-profit organizations that have gross receipts of less than $50,000 and total assets of less than $250,000.
If you have already filed Form 1040, you can file an amended return to correct the mistake. To do this, you will need to file Form 1040-X, Amended U.S. Individual Income Tax Return. You can find this form on the IRS website.
If you have not filed Form 1040 yet, you can file Form 990-N instead. You can find this form on the IRS website.
If you have any questions about filing taxes for a non-profit organization, you can contact the IRS for more information.
Here are some additional tips for filing taxes for a non-profit organization:
- Make sure that you are registered with the IRS as a non-profit organization. You can register online or by mail.
- Keep track of all of your income and expenses. You will need this information when you file your taxes.
- File your taxes on time. The deadline for filing taxes for a non-profit organization is the same as the deadline for filing taxes for individuals.
- If you have any questions, contact the IRS for more information.