Form 990-EZ - Everything the nonprofits should know
The IRS Mandates
E-Filing of Form 990-EZ
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What is IRS Form 990-EZ?- Updated December 28, 2022 - 8.00 AM - Admin, ExpressTaxExempt
Form 990-EZ (Short Form Return of Organization Exempt From Income Tax) is an annual information return filed by certain tax-exempt organizations, nonexempt charitable trusts, and political organizations to report their revenue, expenses, assets, liabilities, activities, board members and their compensation details to the IRS.
The following are the topics that are covered to provide clear information about the Form 990-EZ, the deadline, and other related information.
Table of Content
1. Who must file Form 990-EZ?
The following organizations with gross receipts less than $200,000 and total assets less than $500,000 must file a Form 990-EZ return.
- The organizations that are exempt from income tax under section 501(a)
- Section 4947(a)(1) nonexempt charitable trusts (if they aren’t treated as private foundations)
- Section 527 political organizations
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2. When is the deadline to file 990-EZ?
- The organizations must file the 990-EZ by the 15th day of the 5th month after the end of their tax year.
- If your organization operates under a Calendar Tax Year (which means the tax year ends on December 31), you must file IRS Form 990-EZ on or before
May 15, 2023.
Operating on Fiscal Tax Year?
If you are having any difficulty finding out the due date for your organization to file Form 990-EZ, try our 990 due date calculator.
3. Breakdown of Form 990-EZ
The following are the sections in Form 990-EZ that the organizations should fill out:
- Part I - Revenue, Expenses, and Changes in Net Assets or Fund Balances
- Part II - Balance Sheets
- Part III - Statement of Program Service Accomplishments
- Part IV - List of Officers, Directors, Trustees, and Key Employees
- Part V - Other Information
- Part VI - Section 501(c)(3) Organizations Only
Know your Form 990-EZ filing Requirements
Click here to learn more in detail about the filing requirements of Form 990-EZ by visiting our step-by-step guide on how to fill out Form 990-EZ.
4. Additional requirements for Form 990-EZ
The organizations that file 990-EZ form may have to provide additional information through various Schedules.
There are 8 Schedules available for Form 990-EZ that may need to be attached by the organizations based on their purpose and activities.
- Schedule A - Public Charity Status and Public Support
- Schedule B - Schedule of Contributors
- Schedule C - Political Campaign and Lobbying Activities
- Schedule E - Schools
- Schedule G - Supplemental Information
- Schedule L - Transactions with Interested Persons
- Schedule N - Liquidation, Termination, Dissolution, or Significant Disposition of Assets
- Schedule O - Supplemental Information to Form 990
Looking for Help to Complete Your Form 990-EZ?
Check out our step-by-step instructions guide that elaborates on the filing requirements of Form 990-EZ.
5. What is the penalty for late filing Form 990-EZ?
The organizations must be subjected to penalties if they haven’t provided a valid reason for late filing.
- The penalty would be $20 / day, not to exceed the lesser of $10,500 or 5% of the gross receipts of the organization for the year.
The organizations with annual gross receipts exceeding $1,067,000 are subject to a penalty of $105 / day with a maximum penalty of
$54,500 / return.
- The penalty applies on each day after the due date that the return isn't filed.
Click here to know more about Form 990-EZ Penalties.
6. Is there an extension for Form 990-EZ?
The organizations can extend the 990-EZ filing deadline by filing the extension
By filing Form 8868, the organization can get an automatic 6-Month
Note: The IRS requires no explanation to file tax extension Form 8868.
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7. How to File Form 990-EZ?
For tax years beginning after July 1, 2019, the IRS mandated the electronic filing of Form 990-EZ. Therefore, the organizations should file Form 990-EZ electronically.
To make your filing process trouble-free, all you need is a dependable e-file provider. You don’t have to spend more time finding such a provider. Because as we said earlier, ExpressTaxExempt is already here for you!
How ExpressTaxExempt Streamlines your Form 990-EZ filing?
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Dedicated Customer Service
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- IRS Form 990-EZ:
- IRS About Form 990-EZ:
- IRS Form 990-EZ Instruction: