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The revised Form 990, with its many changes, is being
phased in by the IRS to allow organizations who must file
the return to smoothly transition to the new forms and
supplemental schedules. The new forms, effective for the
2008 tax year (filed beginning in 2009), will be phased
in over a three year period. Based on formulas set by
the IRS, an organization's filing requirement will be
based on its gross receipts and/or its total assets. (The
exception is for those organizations described in section
512(b)(13) (sponsors of controlling organizations and
donor-advised funds---these organizations must file Form
990 irrespective of their gross receipts or asset totals).
The following guidelines detail the phase-in period (Please
note: for 990-N or 990-EZ form filing dates during the
phase-in, please refer to the IRS
website):
- For the 2007 tax year (filed in 2008 or 2009), those
organizations with gross receipts greater than or equal
to $100,000 and/or total assets greater than or equal
to $250,000
- For the 2008 tax year (filed in 2009 or 2010), those
organizations with gross receipts greater than or equal
to $1 million and/or total assets greater than or equal
to $2.5 million
- For the 2009 tax year (filed in 2010 or 2011), those
organizations with gross receipts greater than or equal
to $500,000 and/or total assets greater than or equal
to $1.25 million
- For the 2010 tax year (filed in 2011 or later), those
organizations with gross receipts greater than or equal
to $200,000 and/or total assets greater than or equal
to $500,000
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