Form 990 - Everything the Churches Should Know About

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Tax-exemption for Churches - An Overview

  • The IRS provides any nonprofit organizations that operate towards any exempt purposes with federal tax exemption. This includes Churches as well.
  • This means the Churches and other organizations associated with Churches, such as Church conventions and Integrated auxiliaries, are exempt from paying federal taxes.

Obtaining Tax Exemption

  • Usually, organizations that need to obtain federal tax exemption must file Form 1023 or 1024 or some other form with the IRS.
  • However, Churches don’t need to file any such form as they are automatically classified as tax-exempt by the IRS under the
    IRC section 501(c)(3).

Note:  

Churches may still file Form 1023 for recognition of tax exemption, thereby providing more assurance to the public that their contributions
are tax-deductible.

Form 990 Filing Requirements for Churches

  • Though the IRS doesn’t require Churches to file Form 990 annually, the churches can file 990 returns voluntarily to improve their
    public integrity.
  • They can choose one of the following variants of the 990 series forms based on their financial status,
  • Form 990-N - Churches with gross receipts ≤ $50,000
  • Form 990-EZ - Churches with gross receipts < $200,000 and assets < $500,000
  • Form 990 - Churches with gross receipts ≥ $200,000 or assets ≥ $500,000

Deadline to file Form 990

  • The due date to file 990 forms is the 15th day of the 5th month after the organization’s accounting period ends
  • So, Churches following the calendar tax year can file Form 990 on or before May 15th.
  • Following a fiscal tax year? Find out your Church’s Form 990 deadline.

Note:  

The IRS doesn’t impose any penalties on Churches failing to file Form 990 on or before the deadline.

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Form 990 Filing Due Date