Form 990 Schedule H Worksheets 2023-2024

If you run a non-profit you might already know that you have to file an IRS Form 990 every year and if you watched our form 990 Overby video you know there's five different versions well if your nonprofit is relatively low in gross revenue the version that you file is the least painful of the bunch hi I'm Greg McCray and this is our look at form 990 in now the interesting thing about form 990-n is it's not really a form at all in fact the IRS calls it an e postcard now this isn't like any postcard that you would be familiar with and there's certainly no pictures of the beach or anything like that but it is an online filing only and what the IRS is looking for is the organization's legal name the name of a principal officer whether the organization's still operating or not what the current address is but most importantly what the IRS is looking for is to confirm that the organization's gross receipts are normally under fifty thousand dollars a year and in just a second we're going to explore that normally under fifty thousand a little bit further but first let's talk about where a 990-n came from now it's a relative newcomer when you're talking about the world of IRS compliance filings it's been around about ten years and it's the result of the Pension Protection Act of 2024 now this was legislation that Congress passed that had mainly to do with pensions but there was significant language in there that beefed up some of the requirements for nonprofits here's the thing nonprofits prior to that if they were under 25,000 in annual revenue they basically didn't have to check in with the IRS at all lucky them that...