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PTA Audit Alert!

Every PTA is required to complete and end of year audit! This is a requirement for remaining a local unit/council in good standing. Click here for more important audit information.

Attention Treasurers - New IRS Requirements for ALL PTAs

The IRS is currently sending out notification of the information below, requiring each local unit to file appropriate IRS forms.

 

  1. If your unit will gross less than $25,000 dollars for the fiscal year, you will file the 990-N postcard. 
  2. If your PTA's gross receipts for the fiscal year are more than $25,000 you must file Form 990 and Schedule A. 
  3. PTAs with gross receipts less than $100,000 and total assets less than $250,000, may file Form 990-EZ instead of Form 990. 

All IRS Forms are due the 15th day of the fifth month after the close of the PTA's fiscal year.  (For example, if the PTA's fiscal year ends June 30, the form is due November 15.)
 
These are new requirements for PTAs and all information must be shared with the incoming officers for school year 2008-2009 as the incoming treasurer will be responsible for assuring the proper forms reach the IRS.
 
Currently you may set up your password and ready the account for the actual filing of the 990-N which cannot be sent in until the end of your local unit's fiscal year.
 
New IRS Filing Requirements for Small Tax-Exempt Organizations
Most tax-exempt organizations with gross receipts under $25,000 must file Form 990-N. 
 
What is Form 990-N?
Form 990-N is a short form which is filed electronically on the IRS website.  Go to www.irs.gov/charities to find the form and instructions.  Look for the heading "Annual Electronic Filing Requirement for Small Exempt Organizations - Form 990-N (e-postcard)."
 
When must Form 990-N be filed?
Form 990-N is due on the 15th day of the 5th month after the close of the tax year.  For organizations with a tax year ended June 30, 2008, the first 990-N is due November 15, 2008. 
 
Is filing Form 990-N mandatory?
Yes.  Failure to file Form 990-N can lead to loss of tax-exempt status. 
 
Protect the tax-exempt status of your organization.   Make sure the organization files before the due date.  Have the following information in front of you before you log onto the site:  

  • The organization's federal employer identification number
  • The organization's fiscal year end (e.g. December 31)
  • The organization's full name and address
  • The name of a principal officer of the organization
  • The organization's website address if it has one
  • The organization's gross receipt for the tax year, to confirm that gross receipts were $25,000 or less.

Late Filing or Failure to File the e-Postcard
An organization that fails to file required e-Postcards (or information returns-Forms 990 or 990-EZ) for three consecutive years will automatically lose its tax-exempt status.
           
References:   www.irs.gov/charities and National PTA


If you have further questions, contact State Treasurer, Melody Richitelli at 404-659-0214 or at treasgapta@bellsouth.net.

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