On Jan. 21, 2012, the IRS released the 2011 Form 990 for exempt
organizations, as well as most of the accompanying schedules. The
due date for filing the required return for an exempt organization
that is on a calendar-year taxable year is May 15, 2012, unless the
organization obtains an extension. The Form 990 and instructions
reveal several important changes of which exempt organizations
should be aware.
The general instructions clarify that governmental units and
affiliates of governmental units that are described in Revenue
Procedure 95-48, which normally excuses such entities from filing
requirements, must file an annual return if they are classified as
supporting organizations. Also, a new organization that has not yet
filed its Form 1023 or Form 1024 with the IRS must file a Form
990.
