If you’ve ever wondered about S Corp vs LLC, here is some useful information to help you understand the differences in the two.
The days of that disclaimer at the end of emails may be over. The IRS implemented revised regulations governing practicing before the IRS effective June 12, 2014.
As part of these revised regulations, there were changes made that may make that annoying but required disclaimer at the end of emails no longer necessary.
Form 990 must be filed by a tax-exempt organization if it has gross receipts greater than or equal to $200,000 OR total assets greater than or equal to $500,000 at the end of the tax year (with a few exceptions).
Many organizations on the lower end of the $200,000 to $500,000 revenue range choose to prepare their 990 in-house. I understand the economies of that. I’ve reviewed 990’s prepared by members of their own organization and the new 990 form can be confusing at times. Here are some hints that I hope will be helpful in preparing your 990 in-house, if you choose to do so.