If you have the
usual June 30 year end, all PTAs and
PTSAs must file their federal tax returns by November 15, or request an
automatic three month extension by the same date to avoid late filing penalties.
Depending on your gross revenue and net assets, you will file a 990-N, a 990-EZ
or the full 990. Here are the levels:
Use 990-N
(e-postcard, very short and simple and can be filed electronically) - if your
annual gross receipts are less that $50,000
Use 990-EZ (really
not so EZ- it's about 20 pages) - if your gross revenues are $200,000 or less
and your net assets are under $500,000
Use 990- if your
gross revenues are above $200,000.
If you need more time to
sort all this out, file for the three month Automatic Extension on Form 8868;
then you have until February 15, 2013 to complete your taxes. You must
request the extension or you will face late filing fees.
Here is a link to the IRS site for
more information and directions on filing.
If you do need to
file one of the longer forms, here is a site that will help you-
basically on-line tax software for 990s. It is free if your gross
receipts are under $100,000 and $35 for the next tier up- very
reasonable!
If you have more
questions, contact Tatia Vasbinder at the state PTA at
tvasbinder@wastatepta.org
Dianne Casper
SCPTSA
Treasurer
