A nongovernmental tax-exempt organization must complete a Form 990 and send it to the Internal Revenue Service:
A) Only if they have unrelated business income.
B) If they are not a religious organization, and have gross receipts of $5,000 or more each year.
C) If they have gross receipts of $1,000 or more each year.
D) Only if they are a private foundation, not a public charity.

Question

Quizplus · Accepted Answer

Nongovernmental tax-exempt organizations that are not religious organizations are required to file a Form 990 if they have gross receipts of $5,000 or more each year. Religious organizations are exempt from this requirement.

A Nongovernmental Tax-Exempt Organization Must Complete a Form 990 and Send