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) Most nonprofit tax-exempt organizations are required to file annual tax returns with the IRS. Even though most tax-exempt nonprofit organizations do not pay federal taxes (that is what “tax-exempt” means), most do have to file an informational return with the IRS. This annual reporting return is called a Form 990.https://www.irs.gov/pub/irs-pdf/f990.pdf
What is the IRS Form 990?
The IRS Form 990 is the reporting form that many federally tax-exempt organizations must file with the IRS each year. This form allows the IRS and the general public to evaluate a nonprofit’s operations; it includes information on the nonprofit’s mission, programs, and finances.