Lompoc Council PTA

Federal Taxes

Although PTA is an organization that operates in the public trust, it must comply with all tax requirements as prescribed for its nonprofit status. As a result, PTAs may be required to file federal tax returns depending on their gross receipts (see below).

New Tax Filing Requirements

The new Form 990 series returns are effective for 2008 tax years. Fiscal years beginning in 2008 and ending in 2009. To allow organizations time to adjust to the new forms, the IRS is phasing in the new returns during a three-year transition period. During the transition, an organization’s annual filing requirement depends on its financial activity.

The chart below indicates the general exempt organization filing requirements during the transition period.

New Tax Filing Chart

Unit, council and district PTAs with annual gross receipts normally less than $25,000 are now required to file Form 990N .Instructions for filing this form can be found at http://www.irs.gov/charities/index.html.

The forms dated the year the PTA fiscal year begins are the correct forms to use. For example, if the current fiscal year begins July 1, 2004 and ends June 30, 2005, forms for the year 2004 should be used.

Filed under: Financial on July 21st, 2009