Year-End Reporting & Taxes
Ali Pennisi & Sai Acharya
The Bigger Picture
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September October
FY ended
Aug 31Complete
Reviews and reports
Sept 30Complete IRS
forms and send everything to
State HQ
Oct 31
November
• Timeline (Stay on top)
• County 4-H Associations: September 1 – August 31
• County 4-H Foundations: Varies
Began compiling financial documents for review Appointed reviewers/ auditors to complete the
review.
Fiscal Year-End
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1
31
September October
FY endedAug 31
Complete IRS forms and send everything
to State HQ
Oct 31
November
Complete Reviews and
reports
Sept 30
• Financial Review• Required Forms
The review and reports
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1 1 31
September October
FY endedAug 31
Complete IRS forms and send everything
to State HQ
Oct 31
November
Complete Reviews and
reports
Sept 30
Annual Year-End Report
Account Report
Account Summary
Report
IRS 8821
Membership Roster
IRS 990-series
• Just follow the link: http://florida4h.org/staff/taxexempt/
• Or Go to: http://florida4h.org 4-H Professionals (across the top) Click Evaluation and Reporting Enter in UFL email address and password Click drop down under Tax-Reporting and select
Tax Reporting
Navigating to Year-End Forms
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Annual Year-End Report
Account Report
Account Summary
Report
IRS 8821
Membership Roster
IRS 990-series
Financial Review
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Identify a reviewer or reviewing committee
The Association gathers & prepares the information to be reviewed
Reports are reviewed by 4-H Agent and reviewer(s)
Findings are reviewed and approved by the CED
Reports are returned to 4-H Agent for submission to State HQ and filing
A financial review should be conducted annually for all
accounts held under your county 4-H Association
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Financial Review
At the very least, a financial review should check:
• Beginning balance
• Total income
• Total expenses
• Ending balance
• Ensure statements match records
• Backup documentation
• Evidence of account balancing
• Reviewer(s) statement(s)
• Signature(s) of reviewer(s)
Financial Review vs. Audit
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A financial review should be conducted annually: • Provides limited assurance on the county 4-H Association’s
financial statements• Conducted internally
• Reviewers should not include the Treasurer, Assistant Treasurer, nor any signatory on any account being reviewed
• Less costly
An audit can be conducted on an as-needed basis: • Provides the highest level of assurance on the county 4-
H Association’s financial statements and banking procedures
• Conducted by a credentialed outside party• Can be expensive
Annual Year-End Report
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Annual Year-End Report
Account Report
Account Summary
Report
IRS 8821
Membership Roster
IRS 990-series General Information
– County Association name, address, EIN, and contact information
Statement of Continued Inclusion & Signatures– Certify that all requirements have been met for continued inclusion in GEN– Association Chairperson, 4-H Agent, and CED
Bylaws– Certify that no changes have been made to the bylaws within the year– If there were changes, attach a current copy and note the changes
Financial Information– Certify that a financial review has been carried out– Certify that all necessary forms are attached– Report a change to the fiscal year
Membership Information– Certify that you have attached the Membership Roster
Tax Information– Certify that you have completed and filed with the IRS the appropriate tax return
Annual Year-End Report
Account Reports & Account Summary Report
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Annual Year-End Report
Account Report
Account Summary
Report
IRS 8821
Membership Roster
IRS 990-series
Account Reports
• Complete one (1) for each account held by the county 4-H Association
Account Summary Report
• Complete just one (1)• Combines information from
each account
Account Summary
ReportAccount Report
IRS 8821
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Annual Year-End Report
Account Report
Account Summary
Report
IRS 8821
Membership Roster
IRS 990-series
The IRS 8821 must be completed annually
Allows the University of Florida to review your county 4-H Association’s tax return
IRS 8821
Membership Roster
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Annual Year-End Report
Account Report
Account Summary
Report
IRS 8821
Membership Roster
IRS 990-series
List all members of the county 4-H Association or Foundation
Membership Roster
IRS forms
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September October
FY ended Complete IRS forms and send everything
to State HQ
Oct 31
November
Complete Reviews and
reports
Sept 30
• IRS 990-N (E-postcard) • IRS 990-EZ • IRS 990
Aug 31
IRS 990-N (E-postcard)
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Annual Year-End Report
Account Report
Account Summary
Report
IRS 8821
Membership Roster
IRS 990-series
Gross Income < $50,000
• Filed electronically via: Epostcard.form990.org
• Forward confirmation of successful submission to Sai Acharya
The GEN is approved with the IRS, the county 4-H Association’s are captured within the IRS reporting system as subordinate
groups.
IRS 990-N (e-postcard)
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Annual Year-End Report
Account Report
Account Summary
Report
IRS 8821
Membership Roster
IRS 990-series
Common Errors:The system is not able to determine your fiscal year. You may not proceed with this filing.
F990-906-01: The return type indicated in the return header must match the return type established with the IRS for the EIN.
F990-902-01: The EIN in the return must have been established as an exempt organization return filer in the e-file database.
• Can call the 1-800 number listed• Have handy: • Association name, EIN, address• Articles of Association - “Founding Documents”
IF they can resolve your issues, you will have to wait for 6 weeks before filling electronically
IRS 990-EZ and IRS 990
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Annual Year-End Report
Account Report
Account Summary
Report
IRS 8821
Membership Roster
IRS 990-series
Key things to note:
Include 6057
$200,000 > Gross income > $50,000
Gross income > $200,000
990-EZ:
990:
Don’t check any box
IRS 990-EZ and IRS 990
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Annual Year-End Report
Account Report
Account Summary
Report
IRS 8821
Membership Roster
IRS 990-series
Key things to note cont’d:
Where to send forms…
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990 EZ and 990: Department of the Treasury
Internal Revenue Service CenterOgden, UT 84201-0027
All paperwork (including IRS 990-Series copies):
State 4-H HeadquartersAttn: Sailesh Acharya
PO Box 110225Gainesville, FL 32611
The Bigger Picture
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September October
FY ended
Aug 31Complete
Reviews and reports
Sept 30Complete IRS
forms and send everything to
State HQ
Oct 31
November
• Timeline (Stay on top)
Additional information
• Sales Tax exemption Apply separately (DR-5 form) Florida Department of revenue You’ll receive Certificate of Exemption
• Group Exemption Letter Is verification of your 501 (c)(3) County association might not be
listed in IRS PUB78.
• FAQ http
://florida4h.org/staff/taxexempt/Tax_Issues_FAQ.pdf
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Any questions?
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