990 filing thresholds for 2010 tax years

Cutoff for filing that new, long 990 is dropping in 2010.  If your fiscal year ends December 31, 2010 or later, here is the rundown on what forms you will have to file:

Income under $50,000 – 990-N – called the e-Postcard, this must be filed electronically. Good news is the extreme simplicity of the form.

Income under $200,000 AND assets under $500,000 – 990-EZ – much simpler than the long form

Income over $200,000 OR total assets over $500,000 – 990 – the long form.  Time to jump in and learn how to get it filled out.

More info at the IRS website.

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