Which of the following organizations must file an annual information return (Form 990) with the IRS?

Answer options:

A church.

A federal agency.

An organization with gross receipts less than $5,000.

A private foundation.

How to approach this question

Recall the exceptions (CHRIST: Churches, High-schools (religious), Religious orders, Internal groups, Societies (missionary), Tax-exempt under $5k). Private foundations MUST file.

Full Answer

D.A private foundation.✓ Correct

Most tax-exempt organizations must file Form 990. Exceptions include Churches, religious orders, and organizations with less than $5,000 in gross receipts. Private foundations are required to file Form 990-PF regardless of receipts.

Common mistakes

Thinking churches must file Form 990.

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