IRS 990 - Schedule B 2024-2025 free printable template
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For Paperwork Reduction Act Notice see the instructions for Form 990 990-EZ or 990-PF. Cat. No. 30613X Schedule B Form 990 Rev. 12-2024 Page 2 Name of organization Part I a No. Contributors see instructions. Don t complete any of the parts unless the totaling 5 000 or more during the year. Caution An organization that isn t covered by the General Rule and/or the Special Rules doesn t file Schedule B Form 990 but it must answer No on Part IV line 2 of its Form 990 or check the box on line H of...its Form 990-EZ or on its Form 990-PF Part I line 2 to certify that it doesn t meet the filing requirements of Schedule B Form 990. Schedule B Form 990 Schedule of Contributors Rev. December 2024 OMB No. 1545-0047 Attach to Form 990 990-EZ or 990-PF. Go to www.irs.gov/Form990 for the latest information. Department of the Treasury Internal Revenue Service Employer identification number Name of the organization Organization type check one Filers of Form 990 or 990-EZ Section enter number...organization 4947 a 1 nonexempt charitable trust not treated as a private foundation 527 political organization 501 c 3 exempt private foundation 501 c 3 taxable private foundation Check if your organization is covered by the General Rule or a Special Rule. Note Only a section 501 c 7 8 or 10 organization can check boxes for both the General Rule and a Special Rule. See instructions. General Rule For an organization filing Form 990 990-EZ or 990-PF that received during the year contributions...totaling 5 000 or more in money or property from any one contributor. Complete Parts I and II. See instructions for determining a contributor s total contributions. Special Rules regulations under sections 509 a 1 and 170 b 1 A vi that checked Schedule A Form 990 Part II line 13 16a or 16b and that received from any one contributor during the year total contributions of the greater of 1 5 000 or 2 2 of the amount on i Form 990 Part VIII line 1h or ii Form 990-EZ line 1. Complete Parts I and II....contributor during the year total contributions of more than 1 000 exclusively for religious charitable scientific literary or educational purposes or for the prevention of cruelty to children or animals. Complete Parts I entering N/A in column b instead of the contributor name and address II and III. during the year for an exclusively religious charitable etc* purpose. Use duplicate copies of Part I if additional space is needed* b Name address and ZIP 4 c Total contributions d Type of...contribution Person Payroll Noncash Complete Part II for noncash contributions. Page 3 from Noncash Property see instructions. Use duplicate copies of Part II if additional space is needed* FMV or estimate Description of noncash property given Date received Page 4 Exclusively religious charitable etc* contributions to organizations described in section 501 c 7 8 or 10 that total more than 1 000 for the year from any one contributor. Complete columns a through e and the following line entry. For...organizations completing Part III enter the total of exclusively religious charitable etc* contributions of 1 000 or less for the year.
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How to edit IRS 990 - Schedule B
How to fill out IRS 990 - Schedule B
Instructions and Help about IRS 990 - Schedule B
How to edit IRS 990 - Schedule B
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How to fill out IRS 990 - Schedule B
Filling out the IRS 990 - Schedule B requires meticulous attention to detail. Follow these steps:
01
Obtain the current version of Form 990 - Schedule B from the IRS website.
02
Read the instructions provided with the form carefully.
03
Gather necessary information regarding contributions to your organization.
04
Fill out the form, ensuring all sections are completed accurately.
05
Review your entries for any errors before submitting the form.
Latest updates to IRS 990 - Schedule B
Latest updates to IRS 990 - Schedule B
Stay informed about changes to the IRS 990 - Schedule B to ensure compliance. Updates can include changes in reporting requirements, filing deadlines, or instructions provided by the IRS. Always refer to the IRS official publications or guidelines for the most current information.
All You Need to Know About IRS 990 - Schedule B
What is IRS 990 - Schedule B?
What is the purpose of this form?
Who needs the form?
When am I exempt from filling out this form?
Components of the form
What are the penalties for not issuing the form?
What information do you need when you file the form?
Is the form accompanied by other forms?
Where do I send the form?
All You Need to Know About IRS 990 - Schedule B
What is IRS 990 - Schedule B?
IRS 990 - Schedule B is a supplemental form that must be filed by tax-exempt organizations. This form requires organizations to report information about significant contributions they received during the year. It ensures transparency and accountability in the reporting of revenue sources.
What is the purpose of this form?
The purpose of IRS 990 - Schedule B is to provide detailed information on the organizations' funding sources. It helps the IRS and the public understand the financial support received by tax-exempt organizations. This transparency aims to prevent fraud and mismanagement within charitable entities.
Who needs the form?
Organizations that are required to file Form 990 must also complete Schedule B if they have received contributions over a certain threshold. These organizations typically include charities, foundations, and other tax-exempt entities seeking donor deductions.
When am I exempt from filling out this form?
Organizations may be exempt from filing IRS 990 - Schedule B if they meet specific criteria set by the IRS. Generally, small organizations earning below a certain threshold or those not required to file a complete Form 990 may not need to submit Schedule B.
Components of the form
IRS 990 - Schedule B includes several key components, including parts for reporting donor information, contribution amounts, and related entities. Each section must be filled out accurately to reflect the organization's financial activities related to contributions.
What are the penalties for not issuing the form?
Failure to file IRS 990 - Schedule B correctly can result in penalties imposed by the IRS. Organizations may face fines and loss of tax-exempt status, making it imperative to adhere to the filing requirements and deadlines.
What information do you need when you file the form?
When filing IRS 990 - Schedule B, gather essential information such as the names and details of major donors, the amounts donated, and the purpose of contributions received. Accurate record-keeping simplifies this process and ensures compliance with IRS requirements.
Is the form accompanied by other forms?
IRS 990 - Schedule B is typically filed alongside Form 990, which provides a comprehensive overview of the organization’s finances. Additionally, organizations may need to submit other schedules depending on their activities and funding sources.
Where do I send the form?
The completed IRS 990 - Schedule B should be submitted to the IRS following the filing instructions for Form 990. Be sure to check the IRS website for the appropriate mailing addresses and ensure that the form is sent to the correct location based on your organization’s designation.
FAQ about IRS 990 - Schedule B
What should I do if I realize I've made an error after submitting my IRS 990 - Schedule B?
If you discover an error after submitting your IRS 990 - Schedule B, you can file an amended return. Be sure to clearly label it as an amendment and include the necessary corrections. Keep in mind the potential for delays in processing the amended return.
How can I verify if my IRS 990 - Schedule B has been received and processed?
To verify the status of your IRS 990 - Schedule B, you can contact the IRS directly or use the online tool, if available. It's essential to have your submission details ready, as this can help expedite the process.
Are there any common errors that should be avoided when filing the IRS 990 - Schedule B?
Common errors when filing the IRS 990 - Schedule B include misreporting donor information or discrepancies in amounts. Double-checking all entries against your records and ensuring all applicable fields are filled can help mitigate these mistakes.
What are the implications of receiving a notice or letter from the IRS regarding my IRS 990 - Schedule B?
Receiving a notice or letter from the IRS about your IRS 990 - Schedule B may indicate a request for clarification or action regarding your submission. Carefully review the correspondence, and be prepared with documentation to respond accurately.
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