Important IRS filing for locals

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Important IRS filing for locals

Voice: November 2017

All PSEA locals, regardless of size, must file an annual tax return with the Internal Revenue Service.

Locals must file Form 990, Form 990-EZ, or electronic Form 990-N each year. Returns are due 4 ½ months after a local’s fiscal year end – i.e., if the fiscal year ended Aug. 31, the return is due by Jan. 15.

Failure to file a return for three consecutive years will result in an automatic loss of tax-exempt status.  Locals will have to reapply for tax-exempt status and may have to file and pay corporate income taxes.

Detailed instructions for local treasurers are available on PSEA Local Leader Tools (www.psea.org/leaders) in the Treasurer’s Manual. For further assistance regarding the filing, contact Joan Cromer at jcromer@psea.org or Maria Weik at mweik@psea.org