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Common Errors Made by Exempt Organizations
Tips When Filing Form 990
The following five items are the IRS "TOP-5 Correspondence Items"
associated with filing form 990 by Exempt Organization.
- Schedule A missing or incomplete.
- Missing signature.
- Part IV-A, Schedule A (support schedule), missing or incomplete.
- Part IV missing or incomplete. (Reconciliation of revenue/expenses.)
- Clarification of subsection (request copy of determination letter).
The table below indicate the percentage of errors associated with each of the
item listed above and show some tips on how to address each of these areas to
helping you producing and filing an error-free return. Should you require
some help, please call us at (972) 644-9990
| Tips When Filing Form 990 |
% of returns
in error |
Complete Schedule A (Form 990/990-EZ) if your
organization is required to file Form 990 and is a § 501(c)(3), 501(e),
501(f), 501(k) or 501(n) organization, or a § 4947(a)(1) nonexempt
charitable trust. Be sure to:
- Complete all applicable parts and lines;
- Answer "Yes", "No" or "N/A" to each
question;
- Make an entry on all total lines (including zero when appropriate);
and
- Enter "None" or "N/A" if an entire Part does not
apply.
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36.1% |
| Complete Schedule A, Part IV-A, Support Schedule, if
you checked a box (or should have checked a box) on Schedule A, Part IV,
line 10, 11 or 12. |
18.1% |
| Sign the return. An officer of the organization must
sign the return. For a corporation or association, this officer may be the
president, vice president, treasurer, asst. treasurer, chief accounting
officer or tax officer. For a trust, the authorized trustee(s) must sign.
A receiver, trustee or assignee must sign any return he or she files for a
corporation or association. |
17.6% |
| Attachments. Double check your return to make sure
all required pages, reconciliation sheets and schedules are attached.
Include a list of subordinates if filing a group return. |
9.1% |
| Complete Form 990, Part IV, Balance Sheets. All
organizations must complete all lines in both columns (A) and (B), or
indicate on those lines "N/A" (not applicable), or attach a
schedule including the information and indicate on the applicable line
that a schedule is attached. Part IV-A and Part IV-B must also be
completed if applicable (see specific requirements in Form 990
instructions). |
8.5% |
| Double-check the accuracy of your EIN, Tax Period and
Group Exemption Number (GEN) (if applicable). |
8.5% |
| Make sure you indicate the correct IRC subsection for
your organization, as indicated in your District Director Determination
Letter. |
2.1% |
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