Fill Form 990 Schedule H Part V Section B 2023-2024

Welcome to my series of video tutorials on how to prepare Form 990-EZ information return for small tax-exempt organizations. I'm David McCree, a CPA. You can find me on the web at myform990ez.com. In this tutorial, we will be focusing on the header section of Form 990-EZ. It's important not to overlook this section as it is often neglected. First, let's discuss the year of the return. For this tutorial, we will be using the 2014 return. The 2014 Form 990-EZ is used to report on any fiscal year that began in 2014, whether it started on January 1st, July 1st, or November 1st. If the fiscal year begins in 2014, you will use the 2014 form, even if it covers part of 2015. In line A of the header, you need to indicate the accounting period you are reporting on. If you use the calendar year, you can leave it blank. However, if it is a fiscal year end, you need to enter the beginning date. Let's use July 1st as an example. The fiscal year ends on June 30th, 2015. Therefore, the span of the reporting period is from July 1st, 2014 to June 30th, 2015. Remember, you cannot report for a period longer than 12 months on one return, and if you are reporting for a short period shorter than 12 months, you won't be able to e-file the return unless it's marked as an initial or final return. Moving on to section B in the header, there are different checkes to notify the IRS of various circumstances. The first check is for an address change. Check this if the organization has changed its address since the last form 990 was filed. The next check is for a name change. If the organization has changed its legal...