Which of the following statements regarding exempt organization filing requirements is incorrect?
A)Churches are required to file Form 990 (Return of Organization Exempt from Income Tax)only if its annual gross receipts exceed $25,000.
B)The due date for Form 990 (Return of Organization Exempt from Income Tax)is the fifteenth day of the fifth month after the end of the taxable year whereas for private foundations the due date for Form 990-PF (Return of Private Foundation)is the fifteenth day of the fourth month after the end of the tax year.
C)All exempt organizations whose annual gross receipts do not exceed $25,000 do not need to file either Form 990 (Return of Organization Exempt from Income Tax)or Form 990-PF (Return of Private Foundation).
D)Only a.and b.are incorrect.
E)a. ,b. ,and c.are incorrect.

Question

Quizplus · Accepted Answer

Statement A is incorrect as churches are actually not required to file Form 990 regardless of their annual gross receipts. Statement B is correct. Statement C is incorrect as even if an exempt organization's annual gross receipts do not exceed $25,000, it may still need to file Form 990-N (e-Postcard) to provide basic information to the IRS.

Which of the Following Statements Regarding Exempt Organization Filing Requirements