Who Must File?
Each year your PTA should file either Form 990, Form 990-EZ, or Form 990-N, dependent upon your financial circumstances for the tax year (fiscal year) ending June 30. Every PTA must file with the IRS.
- If your PTA’s average gross receipts are normally $50,000 or less, complete IRS Form 990-N (e-postcard).
- If your PTA’s gross receipts are over $50,000 but under $200,000, complete IRS Form 990-EZ.
- If your PTA’s gross receipts are over $200,000, complete IRS Form 990.
The IRS will suspend the status of organizations that have failed to file a 990-series return for three consecutive years; these PTAs will automatically lose their tax-exempt status
. Additionally, a PTA that fails to file a required return is subject to an IRS penalty of $20 per day for each day the failure continues.
Late filing or failure to file the 990:
If you do not file your taxes on time, the IRS will send a reminder notice to whomever filed the 990 for your PTA last year. You will not be assessed a penalty for late filing the e-Postcard, however, a PTA that fails to file a 990 for three consecutive years will automatically loose its tax-exempt status. The revocation of the PTA’s tax-exempt status will not take place until the filing due date of the third year.
If you receive a message that the EIN is not recognized, contact Virginia PTA at firstname.lastname@example.org
or by telephone at 804.264.1234
Questions? Contact the Virginia PTA Treasurer, Kathy Harrison at email@example.com
. The IRS e-Postcard Technical Assistance contact number is 866.255.0654.
Note: the deadline of November 15 is a post-marked date.