Tax year 2010 is the final transition year of the three year transition period set by the IRS to file the new redesigned IRS Form 990. This applies to exempt organizations with fiscal year ends of June 30, 2011 who will file the 2010 tax year return in 2011 or later.

When the new form was introduced for 2008 tax years (returns filed beginning of 2009), the IRS set filing thresholds based on gross receipts and total assets at higher limits to provide relief to the smaller organizations to continue to file the 990-EZ . This allowed many exempt organizations to prepare the necessary recordkeeping requirements to file the full form 990 and necessary schedules. The filing thresholds in this final year of transition are set as final limits at;



AKT assists a variety of nonprofit organizations gather the necessary information and provide guidance on the record keeping process that will be rquired to file the full Form 990. We can provide updated templates to ease the process of your form 990 preparation needs. For more information, please contact Elsa Romero at eromero@aktcpa.com.