IRS Tax Filings
The NPMA Executive Board has determined that the National Office will prepare and handle IRS electronic 990 returns and filings for all Chapters and Regions. However, chapters who have income greater than $25,000 for three consecutive years will not be eligible for the electronic form and will be responsible for filing their own tax return.
- An IRS Form 990 must be filed for all NPMA Chapters.
- In addition, IRS regulations require us to file a 1099 form for any individual (not business) to whom NPMA paid a total of $600 or more during the fiscal year (not including expense reimbursements).
- For instance, if your Chapter hired an individual attorney, accountant, architect, contractor, engineer, etc., OR you held a Chapter event and used a consultant, entertainer, or even an NPMA member as an instructor and you paid that individual $600 or more over the course of the year, that is considered taxable income to the recipient and must be reported via the 1099 form.
So that these forms can be filed by IRS-imposed deadlines, your Chapter Treasurer should complete and fax the Annual Chapter Financial Report to the National Office no later than the second week in January.
That report should be accompanied by an IRS W-9 form for each person to whom the Chapter paid $600 or more during the year.
- The payee’s correct taxpayer identification number, name, and address are required for the 1099 form mentioned above, and that is obtained by having the individual sign a W-9 form.
- Therefore, they will need to complete and sign the W-9 form and return it to you in time for you to submit it to the National Office with your Annual Chapter Financial Report in mid-January.
NOTE: There are stiff penalties from the IRS for incorrect or late filings.
If you run into problems or have any questions regarding this, please don’t hesitate to contact HQ by email or 404-477-5811.