Busy Treasurer in Florida;135754 wrote: I previously filed all the paperwork for incorporation and 501(3)(c) status as well. We have been approved and now this will be the first filing of the 990EZ form. Its confusing to say the least, as I had the startup kit to help with the 501. Any tips or advise before I start on the 990?? Anything would be helpful! Thanks
Congratulations! Can you tell us how long it took from the time you filed complete paperwork to when you received your determination letter?
On the 990/990EZ, I'd suggest looking at some others who have filed. It's easier to see a sample. Also do a key word search here in the Forums.
One easy way to find samples is to go to www.Guidestar.org
, a searchable directory of information on charitable organizations. You'll have to register (free) to do a search. In the search field, just enter "PTO". That should bring up lots of results. Look for ones that have the 990s on file and you can simply click on them to read a scanned version. Good luck!
I previously filed all the paperwork for incorporation and 501(3)(c) status as well. We have been approved and now this will be the first filing of the 990EZ form. Its confusing to say the least, as I had the startup kit to help with the 501. Any tips or advise before I start on the 990?? Anything would be helpful! Thanks
Last year while trying to get a grant we also discovered the same situation. Our PTO has been operating for over 30 years and has funds over $5,000. We were very concered that we would be fined for the past years but that was not the case. We contacted the IRS and explained the situation and they were very helpful. The sent us the paperwork and explained we were operating with the assumption we were exempt. We followed the steps on the form with an occational call to the IRS with questions. After or $750 filing fee we are now legal! Try it yourself and don't pay an accountant. Good luck, you can do it.
jajea;134963 wrote: ...Nice to hear from "regular folk". ..
jajea
My own choice of phrase is "mere mortals" - which is exactly what most of us here on the Board are. Very few of us are accountants or lawyers. But it's amazing what you can achieve with some common sense and persistence. PTO Today's forums provide a wonderful vehicle for us to help each other.
Thank you Critter for the info. I think all this is very intimidating when you start looking at at the applications and talking to people from the IRS. Nice to hear from "regular folk". haha When I first starting looking at this, I have to admit, it about scared the bejebus out of me. I thought I just might be done with this PTO stuff. Anyway, feel a little bit better about it. I really appreciate you all taking the time to give your advice. Thank you, Thank you, Thank you.
