Get IRS 990 Or 990-EZ - Schedule C 2022-2024

The IRS does provide a simplified version of Schedule C, known as Schedule C-EZ, that can be used by some sole proprietors, primarily those who work as independent contractors for one or more larger businesses.

The 990-EZ is considered the short-form return (as compared to the full Form 990), although it is more in-depth than the 990-N postcard. This four-page return is required of organizations with annual gross receipts between $50,000 and $200,000.

The 990 is the tax form the Internal Revenue Service (IRS) requires all 501(c)(3) tax-exempt charitable and nonprofit organizations to submit annually.

Contributions reportable on Schedule B (Form 990) are contributions, grants, bequests, devises, and gifts of money or property, whether or not for charitable purposes. For example, political contributions to section 527 political organizations are included.

How do I convert an exempt organization tax return from Form 990 to Form 990-EZ or vice versa, using worksheet view? Return information cannot be automatically converted from one return type to another within the same tax year. The data must be manually input in the appropriate worksheet.

Purpose of Schedule Schedule R (Form 990) is used by an organization that files Form 990 to provide information on related organizations, on certain transactions with related organizations, and on certain unrelated partnerships through which the organization conducts significant activities.

Form 990 is a long form comprising 12 parts and and thus requires a lot of additional information, such as Statements of revenue, expenses, and reconciliations. Comparatively, Form 990-EZ is shorter, comprising just 6 parts, requires less information, and doesn't require detailed statements and reconciliations.

Generally, Schedule C can be filed by the following organizations if they have reported their involvement in political campaign activities and lobbying activities or subjection to section 6033(e) notice and reporting requirements and proxy tax on their Form 990 or 990-EZ.