On December 20, 2007, the IRS released the 2008 Form 990, the annual information return for public charities and certain other tax-exempt organizations.  The final version, like the discussion draft released for comment in June, contains a core form and multiple schedules.  However, several changes were made in response to public comment, including changes to the Form’s summary page, governance section, and various schedules.

The IRS is implementing a graduated transition period for smaller organizations which will allow for filing of the Form 990-EZ instead of the Form 990 for a certain period.  For the 2008 tax year (returns filed in 2009), organizations with gross receipts over $1 million or total assets over $2.5 million will be required to file Form 990.  Form the 2009 tax year, organizations with gross receipts over $500,000 or total assets over $1.25 million will be required to file Form 990.  Thereafter, the final thresholds will be gross receipts over $200,000 or total assets over $500,000.

Read the IRS Press Release here.

Access the 2008 Form 990, Form 990-EZ, and the Schedules here.

Read the IRS Overview of the Form 990 Redesign here.