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What is the period of limitation that applies to 990 Annual Report filings?

Home LEADERSHIPWhat is the period of limitation that applies to 990 Annual Report filings?

What is the period of limitation that applies to 990 Annual Report filings?

December 26, 2020 Posted by Michele Colopy LEADERSHIP

Record Retention (from IRS.gov)

  1. Keep records for 3 years if situations (4), (5), and (6) below do not apply to you.
  2. Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return.
  3. Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.
  4. Keep records for 6 years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return.
  5. Keep records indefinitely if you do not file a return.
  6. Keep records indefinitely if you file a fraudulent return.
  7. Keep employment tax records for at least 4 years after the date that the tax becomes due or is paid, whichever is later.

*Generally, keep records relating to property until the period of limitations expires for the year in which you dispose of the property.

Board members are responsible for the actions of their fellow Board members. The entire Board must understand and practice their duty of care, duty of loyalty, and financial responsibility to the organization, and practice, support, and maintain high ethical standards. The actions, and in-actions of Board members reflects upon the entire Board and the organization.

Disclaimer: LEAD for Pollinators, Inc. is not a CPA or attorney. For legal and accounting advice consult a licensed attorney or accountant.

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About Michele Colopy

Michele Colopy, LEAD Co-Founder, holds a Master’s degree in Nonprofit Management/Arts Administration. She has more than twenty years of nonprofit experience at the national, state, and local level. She has worked with membership associations, pollinator advocacy, performing arts, housing and homelessness, foreclosure prevention, community development, and health and wellness. She was Treasurer of a State Association from 2016-2019 modernizing the accounting, co-managing a USDA grant, administering the Affiliate program, and managing two grant programs. She was the Program Director of a national pollinator advocacy NGO 2013-2019.

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  • Home
  • Leadership
    • Board of Directors
    • Collaborators
  • Education
    • Blog
    • Educational Presentations
    • Log-In To Learn Recorded Webinars
    • Special Event Planning
    • Publications
    • Videos, Handouts, etc.
    • K-12 Student Resources
  • Action
    • MASSQuito Coalition
    • Akron Noxious Weed Ordinance
    • Akron, Ohio Environmental Justice Coalition
      • White Pond Wetlands (Akron, Ohio)
        • Wetlands- Take Action Through Education & Advocacy
        • SAMPLE Letters and Topic Area (updated often)
        • Wetlands Information
        • Development Guidance To Sustain Wetlands
        • White Pond Wetlands News Stories
        • White Pond Wetlands Background Documents
        • Photos of Activity To White Pond Wetlands
    • Reporting Damage or Loss From Pesticides
  • Development
    • Pollinator Habitat
  • Contact Us Today
  • Donate
    • Donation Affiliations
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