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

Exceptions to 990: 'CHRIST' (Churches, High receipts <$50k (file postcard), Religious orders, Internal support groups, Societies (missionary), Tax-exempt under Congress). Private Foundations MUST file.

Full Answer

D.A private foundation.✓ Correct

Most tax-exempt organizations must file Form 990. Exceptions include churches and federal agencies. Private foundations are required to file Form 990-PF.

Common mistakes

Thinking churches must file.

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