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23 July, 09:06

The local Kennel Club is a not-for-profit organization with gross receipts of $23,500 for the current tax year. Under the Internal Revenue Service Code, the Kennel Club would be required to file which of the following forms for the tax year? A. Form 990-N. B. Form 990-EZ. C. Form 990-PF. D. Since its gross receipts are less than $25,000 it need not file with the Internal Revenue Service.

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  1. 23 July, 10:22
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    A) Form 990-N.

    Explanation:

    Form 990-N is used by not-for-profit organizations with annual gross receipts under $50,000, and it must be filed electronically.

    Most small not-for-profit organizations can use the Form 990-N, except:

    organizations with gross receipts of over $50,000 churches and their associated supporting organizations private foundations political organizations tuition programs government instrumentalities group legal service plans and other specific organizations
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