What is a 990-EZ?
Form 990-EZ is used to file an annual tax return to the IRS by many tax-exempt organizations as well as certain political organizations and non-exempt charitable trusts under section 501(a). Additional schedules are required to be completed depending on the activities and types of organization. The organization may also be required to file the completed Form 990-EZ with state governments to satisfy state reporting requirements.
Who needs to File Form 990-EZ?
Form 990-EZ is designed to be used by small tax-exempt organizations, non-exempt or charitable trusts. These organizations must have gross receipts of $200,000 or less in their total assets at the end of the year and less than $500,000 during the past fiscal year. An organization described in item 10 or 11 under Certain organizations with limited gross receipts, later, is required to submit Form 990-N unless it voluntarily files Form 990 or 990-EZ, as applicable.