Form 1023 – Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code
Form 1023 is the document used by organizations seeking to be recognized as a tax-exempt charity under section 501(c)(3) of the Internal Revenue Code. It’s a crucial step for nonprofits to gain tax benefits and attract donors.
Form 990-PF – Return of Private Foundation (previously noted but critical for private foundations)
Form 990-PF is the annual information return that private foundations must file with the IRS. It provides transparency about the foundation’s activities, finances, and operations.
Form 990-T – Exempt Organization Business Income Tax Return
Form 990-T is an IRS tax form used by tax-exempt organizations to report and pay taxes on any income they earn from unrelated business activities. It ensures that tax-exempt entities don't unfairly compete with for-profit businesses.
Form 990-N – Electronic Notice (e-Postcard) for Tax-Exempt Organizations Not Required to File Form 990 or 990-EZ
Form 990-N, also known as the e-Postcard, is a simplified annual filing for tax-exempt organizations with gross receipts under a specific threshold. It’s designed to help smaller nonprofits meet their reporting obligations with the IRS.
Form 1040-ES – Estimated Tax for Individuals (useful for disaster planning and budgeting)
Form 1040-ES is used to pay estimated taxes if you don’t have taxes withheld from your income. It's particularly useful for disaster planning and budgeting to avoid surprise tax bills.
Form 4684 – Casualties and Thefts (highlighted under disaster-related claims)
Form 4684 is used to report losses from casualties (like damage from a natural disaster) and thefts. It's crucial for claiming deductions related to these unfortunate events.
Form 720-TO – Terminal Operator Report
Form 720-TO is an IRS form that certain terminal operators must file to report fuel removals. It helps ensure that the proper excise taxes on fuel are collected.
Form 720-CS – Carrier Summary Report
Form 720-CS, the Carrier Summary Report, is a tax form used by certain transportation companies to report taxable fuel sales and removals. It helps the IRS track fuel taxes.
Form 1120-H – U.S. Income Tax Return for Homeowners Associations
Form 1120-H is a special tax form used by homeowners associations (HOAs) to file their federal income taxes. It offers a simplified way for HOAs to manage their tax obligations if they meet specific requirements.
Form 1120-L – U.S. Life Insurance Company Income Tax Return (reiterated under corporate forms)
Form 1120-L is the specific tax form that life insurance companies use to report their income, deductions, and calculate their taxes to the IRS. This form is different from the typical corporate tax return.