TravisM
02-16-2009, 10:00 AM
I've posted the entire article and the Link (http://sigmapi.org/spNewsArticle.cfm?articleID=500) for your information.
Sigma Pi Fraternity
Established 1897
http://sigmapi.org/images/artwork/jbcrest.jpg
Attention Chapters: Important Tax Information
There has been a recent change regarding the filing of annual returns for chapters. Prior to the Pension Protection act of 2006, chapters with less the $25,000.00 of gross receipts did not have to file with the IRS. The new law stipulates that chapters that now fall under this $25,000.00 threshold will now have to file an electronic postcard known as the Form 990-N. This is a simple and quick way to file your annual return and only basic information is needed.
For chapters that have gross receipts over $25,000.00 you will need to file Form 990 or Form 990 EZ. These filings require additional information and the Executive Office highly advises that you consult with a tax advisor to insure compliance.
In order to file you must have your Taxpayer Identification Number (TIN). If you do not have your TIN then call the Executive Office and speak to our Director of Finance, Beatriz Slocumb. She can provide your TIN.
To be in compliance you must file by May 15, 2009.
Download (http://www.sigmapi.org/downloads/Filing_Form_990.doc) links to the IRS website and instructions on filing 990 (Word Document).
Sigma Pi Fraternity
Established 1897
http://sigmapi.org/images/artwork/jbcrest.jpg
Attention Chapters: Important Tax Information
There has been a recent change regarding the filing of annual returns for chapters. Prior to the Pension Protection act of 2006, chapters with less the $25,000.00 of gross receipts did not have to file with the IRS. The new law stipulates that chapters that now fall under this $25,000.00 threshold will now have to file an electronic postcard known as the Form 990-N. This is a simple and quick way to file your annual return and only basic information is needed.
For chapters that have gross receipts over $25,000.00 you will need to file Form 990 or Form 990 EZ. These filings require additional information and the Executive Office highly advises that you consult with a tax advisor to insure compliance.
In order to file you must have your Taxpayer Identification Number (TIN). If you do not have your TIN then call the Executive Office and speak to our Director of Finance, Beatriz Slocumb. She can provide your TIN.
To be in compliance you must file by May 15, 2009.
Download (http://www.sigmapi.org/downloads/Filing_Form_990.doc) links to the IRS website and instructions on filing 990 (Word Document).