If you manage a nonprofit organization in Georgia, the Internal Revenue Service (IRS) may require you to submit Form 990 on an annual basis. Your organization’s financial data, including revenue, costs, and assets, are reported on this tax form. However, in Georgia, where do you file Form 990? What you should know is as follows.
First off, it’s crucial to realize that Form 990 is submitted to the IRS and not the state of Georgia. You have two options for submitting your Form 990: online through the IRS filing system, or by mail to the address provided on the form. Your organization’s location and whether you are submitting the form with payment or without payment will determine the address you use.
Internal Revenue Service
P.O. Box 105005
Atlanta, GA 30348-5005 if you are submitting Form 990 with payment.
Department of the Treasury
Internal Revenue Service
Ogden, UT 84201-0027 if you are submitting Form 990 without payment.
Sole proprietorships and Limited Liability Companies are two different kinds of business structures. Since LLCs are different legal entities from their owners, any debts or legal troubles incurred by the business are not personally responsible for the owners. Contrarily, sole proprietorships are not distinct legal entities. Every part of the company, including any debts or legal concerns, is personally the owner’s responsibility.
Your nonprofit’s particular needs and objectives will determine which structure is best for it. Due to their liability protection, LLCs are a popular choice for charitable organizations to create. However, for smaller businesses with lower risks, sole proprietorships might be a preferable option.
The IRS issues a unique nine-digit number called an EIN (employer identification number) to identify your business for tax purposes. You must supply the following details in order to apply for an EIN:
– Your full legal name and, if applicable, your business name Your company’s address, entity type (LLC, sole proprietorship, etc.), and organizational structure (corporation, partnership, etc.) are all listed below. The applicant’s name and Social Security number, as well as the purpose for requesting an EIN (forming a new business, recruiting staff, etc.).
Is an EIN the same as a tax ID?
Does getting an EIN number cost money?
No, there is no fee associated with requesting an EIN. Whether you apply online, by mail, or by fax, the process is free. To prevent any unwanted fees, make sure to apply for an EIN directly through the IRS as certain third-party organizations may charge a fee to assist you.
In conclusion, completing Form 990 to the IRS is all that is required to file the form for your nonprofit organization in Georgia. It’s critical to take your unique requirements and objectives into account when deciding on a business structure and requesting an EIN. If you’re unclear about the solutions that are ideal for your company, don’t be afraid to ask an expert for guidance.
Applying directly with the IRS online, by mail, by fax, or by phone will obtain you a free EIN number. Regardless of the method you select, the application procedure is free. On the IRS website, you may discover further details about how to apply for an EIN number.