New Exempt Organization Filing Thresholds

The IRS dramatically altered the long-form tax return (Form 990) for tax-exempt organizations in 2008.  Use of the new long-form was phased in over several years because of the increased record keeping and costs of compliance.  For 2010 tax returns, Form 990 must be used by tax-exempt organizations if 2010 gross receipts were $200,000 or more (down from $500,000 for 2009 tax returns) or 2010 ending assets were $500,000 or more (down from $1,250,000 for 2009 tax returns).

The short-form tax return (Form 990-EZ) can be used for 2010 tax returns for those exempt organizations having 2010 gross receipts of less than $200,000 and 2010 ending assets of less than $500,000.

The so-called electronic postcard, Form 990-N, can be used for 2010 tax returns for exempt organizations having 2010 gross receipts not in excess of $50,000 (up from $25,000 for 2009 tax returns).

Private foundations must use Form 990-PF, and there are not shorter, alternative forms based upon the size of gross receipts or total assets of the foundation.