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Reporting Requirements

Those organizations that are exempt from federal taxes must file what is known as an information return with the IRS. Most organizations that are entitled to tax exemptions must file a Form 990 with the IRS. This form, which is about 20 pages long including schedules, requires an exempt entity to report on items of revenue, including a balance sheet. The form also asks the organization questions about the organization’s operation, mostly relating to issues dealing with the organizations tax-exempt status. The public is entitled to inspect this form.

Inside Reporting Requirements