Tax-exempt organizations are required to file Form 990 by the 15th day of the 5th month following the organization's taxable year.

Question

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This is correct as per the Internal Revenue Service (IRS) guidelines, which require tax-exempt organizations to file Form 990 by the 15th day of the 5th month after the end of their fiscal year. Failure to file this form can result in penalties and may cause the organization to lose its tax-exempt status.

Tax-Exempt Organizations Are Required to File Form 990 by the 15th