990EZ

There is a transition period for filing the full Form 990 for smaller organizations. When filing the 2008 form, organizations with gross receipts that are normally less than $1,000,000 and assets that are less than $2,500,000 can file Form 990 EZ.

The instructions for the 2008 Form 990EZ have been issued. The instructions are over 90 pages long. Part of this is due to the fact that in prior years the instructions for the Form 990 and Form 990 EZ were included in one package. Information relating to such issues as public disclosure and intermediate sanctions must now be noted separately.

There are several new questions on the Form 990EZ and in some areas the definitions used for the Form 990EZ are different than those used for the Form 990. For example, the definitions for officers and key employees are not consistent between the two forms. Further, there are two options for reporting the compensation of officers, directors and key employees when filing Form 990EZ.

Several of the Form 990 schedules may also need to be completed by filers of the Form 990EZ depending on the activities and exemption type of the organization.