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990 schedule b 2023 Form: What You Should Know
Contributions that have been made in the current tax year, or are made in any future tax period, but remain unclaimed at the close of the tax year are also generally reportable on Schedule B (Form 990, 990-EZ, or 990-PF). These contributions must fall within the limits provided by section 501(c)(3) of the Internal Revenue Code of 1986. If you have any questions, contact the IRS. Tax-exempt corporations, partnerships, and other organizations may also be required to report contributions, grants, bequests, devises, or gifts under section 170(c) of the Internal Revenue Code of 1986. If any contribution, grant, bequest, devise, or gift to an organization, or other individual, is greater than 5,000 (10,000 under section 170(c)) for any one year, (or 15,000 over any three-year period), the organization must file a return to the close of the period. Such contributions also must fall within the tax limits provided in section 501(c)(3) of the Internal Revenue Code of 1986. If you have any questions, contact the IRS. A nonprofit business that wants to report income to the IRS under the Form 990-PF must also meet the requirements for “qualifying organizations.” Qualifying organizations are listed at IRS Publication 501, Organization and Charitable Trust-Making () and must meet certain requirements to be eligible for tax-exempt status. For more information about this requirement, please visit IRS.gov. If you have any questions or concerns, please call the IRS at or e-mail us. Tax-exempt organizations may receive tax-deductible public charity contributions. Please contact the organization if you are thinking of providing your organization with public charity donation. An IRS form 990-PF will be issued promptly or as soon as possible to show the amount and sources of the public charity donations received by the organization. To receive a 990-PF please visit IRS.gov or call and ask to speak with a representative. A 501(c)(3) organization is one where all contributions received from the public for which a deduction is allowed are deductible, regardless of the source.
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