IRS Deadlines and Forms. Here’s What You Need to Know!

By Amy Ellington, Director of Finance and Administration

October 9, 2019

Did you know that your club is required to file a form 990 with the IRS each year? The IRS has three versions, and the form that you will use is based upon your club’s gross income.

990 Filing Thresholds

  • Gross Income < $50,000   990-N
  • Gross Income < $200,000 and Gross Assets < $500,000   990-EZ
  • Gross Income > $200,000 and Gross Assets > $500,000   990

For the majority of clubs (if your fiscal year begins July 1) then your filing is due November 15. Your club’s deadline ultimately depends on your fiscal year. The IRS expects to have your information by the 15th day of the fifth month following the end of your fiscal year.

For those filing a 990-N this is an online filing only.  This form asks how the IRS can contact you if necessary.  If your club files a 990-EZ or 990, these are paper forms.  Please pay attention to the required schedules that go with the forms dependent on your club’s functions.  Remember that the calculation of gross income includes all money coming into the club, including dues and charitable funds.

If your club does not file the necessary forms there will be consequences.  While there are no penalties or interest charges for a late filing of the 990-N, they will be assessed for late filings of a 990-EZ or 990.

If your club fails to file any version of form 990 for three consecutive years then the IRS will revoke your club’s tax status.  This means that you will be removed from Sertoma’s group tax exemption and are no longer a charity.  From this point forward, you will be required to file a corporate tax return, and will pay taxes on all income as required.  There is then a process to request so that your tax status to be reinstated. 

Additional Resources

For more information about taxes and IRS filing requirements visit: https://members.sertoma.org/club-information/irs-information or https://www.irs.gov/charities-and-nonprofits.


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