Form Instructions 990-EZ for Akron Ohio 2024-2025

Form Instructions 990-EZ for Akron Ohio: What You Should Know

R.S. tax return?” A non-profit organization filing a tax return provides an amount to be reported on Form 1120. Your filing requirement is that you report your net worth on Schedule 1, Itemization of Income. Your annual estimated tax liability for the preceding tax year on Form 990 or a similar return, is the amount due. (Some nonprofit organizations have two versions of Form 990-EZ: 990-EZ/P and 990-PF/P and 990-PF/EZ. Generally, Form 1120 includes income and expenses from any source and the estimated net worth reported on the non-profit organization's return. Your estimated tax liability on Schedule 1, Itemization of Income, should not be more than 400, or the amount of your annual deductions, on your Form 990 or return. If your annual average deductions (not your net worth) on Schedule 1, Itemization of Income, for 2025 were less than 4,800, the net worth figure for your return must be less than, or equal to, 400, regardless of the tax rate applied to the deductions.) FORM 990/990-EZ (or similar), with information about all activities of the nonprofit organization throughout the tax year; An explanation why a non-profit organization is filing a return (if this is the case); A statement of the gross income of the nonprofit organization (the amount of gross income reported on Schedule C, Part III); The amount of gross income reported in other Schedule C, Part III(s), but not in Part I(s), of the Form 990 return; The amount of gross income reported in part III(s) by line 31 of Schedule C, Part I, and Form 990-EZ; This is the amount of gross income included in Part I of the return; All reimbursed salaries and wages of directors and administrative and support staff; The amount of charitable contributions; The amount and distribution of property donated; Assets; The amount and distribution of debt; The amount of debt service; All liabilities; Dividends and interest; Payroll expense (including all employers who paid for expenses in excess of 12,000); All non-capitalized inventory; Other items, such as inventory held for sale and the rental or lease of a computer.

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