The Form 990 filing thresholds for tax year 2010 have changed and are now in effect.
Tax-exempt organizations with gross annual receipts normally less than $50,000 may file Form 990-N unless they choose to file a complete Form 990 or Form 990-EZ. Previously, only organizations with gross annual receipts normally less than $25,000 could file the Form 990-N (also known as the "e-postcard").
Tax-exempt organizations with annual gross receipts of less than $200,000 and total assets less than $500,000, as of the end of the tax year, can file Form 990-EZ or a complete Form 990 for the 2010 tax year.
Tax-exempt organizations with annual gross receipts of at least $200,000 or total assets equal to or greater than $500,000, as of the end of the 2010 tax year, must file Form 990 rather than a Form 990-EZ.
Private foundations are still required to file Form 990-PF.
By Eileen E. Brassil, CPA, Partner, ebrassil@legacycpas.com