Form 990-EZ Tax Year 2014 – IRS-Accurate Filing Checklist
Why 2014 Form 990-EZ Is Distinct
The 2014 Form 990-EZ reflects post-redesign stabilization. Schedule A underwent substantial revision for supporting organizations, adding seven new pages of instructions, though the 990-EZ core itself received only cosmetic updates. Section 4980H employer shared responsibility provisions apply to applicable large employers (ALEs) with 50 or more full-time employees.
These provisions pertain to employer mandate requirements regarding health insurance coverage offers, not tax-exempt organization excise tax reporting requirements. Line 40c (Form 990-EZ) reports amounts of tax imposed on organization managers or disqualified persons under sections 4912, 4955, and 4958 only—not Section 4980H payments. The 2014 tax year marks a period of regulatory stability for Form 990-EZ, with no significant structural changes to the core form. Still, significant enhancements to the supporting schedules, particularly Schedule A for supporting organizations.
Year-Specific Programs Applying to 2014 Form 990-EZ
No Economic Impact Payment reconciliation, TCJA-period rules, or ARPA provisions apply to the 2014 form. For 2014, tax-exempt organizations continue to report under the framework established by the redesigned Form 990 series introduced in 2008, with refinements and clarifications added through subsequent revisions.
The 2014 instructions provide enhanced guidance on supporting organization classification, public support tests, and governance disclosures. Organizations filing for tax year 2014 must comply with all applicable reporting requirements based on their exempt status, revenue levels, and organizational structure. This includes the mandatory attachment of Schedule A for Section 501 (c) (3) organizations and Schedule O for supplemental information.
Ten-Step 2014 Form 990-EZ Compliance Checklist
1. Confirm 990-EZ Eligibility Under 2014 Thresholds
Verify gross receipts are less than $200,000 AND total assets end-of-year are less than $500,000 at the end of the tax year. If either threshold is met or exceeded, file Form 990 instead. File Form 990-N if an organization has typically annual gross receipts of $50,000 or less and does not file Form 990 or 990-EZ, unless an exception applies (e.g., section 509(a)(3) supporting organizations must file Form 990 or 990-EZ regardless of gross receipts; specific religious organizations supporting section 501(c)(3) religious organizations with gross receipts not exceeding $5,000 may file 990-N).
For 2014, calculate gross receipts using the formula provided in the instructions: add line 5b, 6c, and 7b to line 9, and compare the result to the $200,000 threshold.
2. Verify Organization Type and Restrictions
Confirm the filing entity is exempt under Section 501(c) (other than private foundations), Section 527 (political organization), or Section 4947(a)(1) (non-exempt charitable trust). Organizations that operate hospital facilities, maintain donor-advised funds, sponsor donor-advised funds, or act as controlling organizations under section 512(b)(13) must file Form 990, not 990-EZ. For 2014, private foundations are required to file Form 990-PF, regardless of their revenue or asset levels. Section 4947(a)(1) nonexempt charitable trusts are treated as section 501(c)(3) organizations for purposes of Form 990-EZ completion, including mandatory attachment of Schedule A.
3. Gather Core Revenue Documents
Collect all documents supporting line 1 (contributions), line 2 (program service revenue), line 3 (membership dues), line 4 (investment income), lines 5a–5c (asset sales), lines 6a–6c (gaming and fundraising events), and lines 7a–7c (inventory sales). For line 1, obtain donation records; for line 2, government contracts and fee agreements. For 2014, ensure all Forms 1099-INT, 1099-DIV, and capital gains/losses records are available for investment income (line 4). Document the fair market value of noncash contributions received during the tax year. Maintain contemporaneous written acknowledgments for contributions exceeding $250.
4. Compile Expense Records and Verify Line Calculations
Assemble documentation for line 10 (grants paid—must list each grant in Schedule O), line 11 (member benefits), line 12 (salaries and compensation), line 13 (independent contractor payments), line 14 (occupancy and utilities), line 15 (printing and postage), and line 16 (other expenses). Verify line 17 (total expenses) equals the sum of lines 10–16. For 2014, obtain Forms W-2 and 1099-MISC for all employees and independent contractors.
Document all grant payments with recipient names, addresses, purposes, and amounts. Maintain receipts, invoices, and supporting documentation for all expense categories. Ensure proper allocation of expenses between program services, management, and fundraising.
5. Complete Balance Sheet Section (Part II)
Document line 22 (cash and savings), line 23 (land, buildings, equipment), line 24 (other assets), line 25 (total assets), and line 26 (total liabilities). Ensure line 27 net assets or fund balances agree with line 21 from Part I. For 2014, report beginning-of-year balances in column A and end-of-year balances in column B. Reconcile line 27, column B (net assets end of year), to line 21 (net assets end of year from Part I). Maintain supporting schedules detailing all asset and liability categories. Document any significant changes in net assets during the tax year.
6. Prepare Section 501(c)(3) Required Schedules
Attach the completed Schedule A (Public Charity Status and Public Support) if the organization falls under the description in section 501(c)(3). Prepare Schedule O (Supplemental Information) to provide narrative descriptions required by Part I, Part III, and Part V of Form 990-EZ. For 2014, Schedule A includes substantial new requirements for supporting organizations, if applicable—complete Parts IV through VI of Schedule A if the organization is a supporting organization.
Document the organization’s classification as a public charity, which may include categories such as church, school, hospital, publicly supported organization, or supporting organization. Calculate and report public support tests using the 33 1/3 percent test or the 10 percent facts, and circumstances test. Provide detailed schedules of contributors, grants, and revenue sources that support the public charity status.
7. Report Excess Business Income and Tax Compliance (Part V, Lines 35–40)
Report on line 35a whether the organization had unrelated business gross income of $1,000 or more. If yes, verify whether Form 990-T was filed on line 35b; if not, kindly explain Schedule O. On line 40a, report the amount of tax imposed under sections 4911, 4912, and 4955. On line 40c, report the amount of tax imposed on organization managers or disqualified individuals under sections 4912, 4955, and 4958.
For 2014, ensure Form 990-T is filed separately if unrelated business gross income exceeds $1,000. Document all unrelated business activities and calculate unrelated business taxable income. Report any excise taxes imposed for excess lobbying expenditures, political expenditures, or excess benefit transactions.
8. Identify Section 4947(a)(1) Trust Requirements (if applicable)
If the organization is a section 4947(a)(1) nonexempt charitable trust, select the designated box in the heading (Item J) and enter on line 43 the amount of tax-exempt interest received or accrued during the tax year. Section 4947(a)(1) trusts must complete all sections of Form 990-EZ and all schedules that section 501(c)(3) organizations must complete, including Schedule A and Schedule O.
For 2014, document the trust’s split-interest classification and ensure compliance with all applicable excise tax rules for private foundations. Report all trust income, distributions, and accumulations in accordance with the governing instrument and applicable state law.
9. Complete Officer, Director, Trustee, and Key Employee Reporting (Part IV, Lines 48–51)
List all officers, directors, trustees, and key employees regardless of compensation; enter zero in columns (D), (E), and (F) if no compensation is paid. On line 50, complete the table for the five highest-compensated employees (excluding officers, directors, trustees, and key employees) who were each paid over $100,000 by the organization. On line 51, complete the table for the five highest-compensated independent contractors, each of whom spent over $100,000.
If none, enter “None.” For 2014, provide the name, title, average hours per week, and reportable compensation from Forms W-2/1099-MISC for each listed individual. Document any compensation paid to related organizations. Ensure consistency between compensation reported on Form 990-EZ and amounts reported on Forms W-2 and 1099-MISC.
10. Assemble, Sign, Date, and File with Verification
Verify that all Parts I through V are completed, and ensure that Part VI (Governance section) is achieved if the organization is a section 501(c)(3). Sign and date Form 990-EZ in Part II by organization officer or authorized representative and paid preparer (if applicable), indicating preparer’s PTIN if paid preparer signature is required. Do not enter social security numbers on the form. Attach all necessary schedules, including Schedule A for 501 (c) (3) organizations, Schedule O for all organizations, and any additional schedules specified in the Part IV checklist.
File with the IRS according to the instructions for Form 990-EZ 2014; refer to the IRS Where to File page for mailing instructions by state. For 2014, the filing deadline is the 15th day of the 5th month after the tax year ends (May 15, 2015, for calendar year 2014 filers). Request an automatic extension using Form 8868 if you need additional time.
2014 Form 990-EZ Line and Section Changes
Line 27 (Net Assets / Fund Balances, Column B): Prior instruction note referenced prior-year figure reporting. The 2014 instruction clarifies that line 27, column (B), must agree with line 21 (net assets at the end of the year, combined from Part I). Change type: Clarified.
Part V, Lines 11b and 19 (Governance): Prior note indicated Part V governance questions required narrative responses. The 2014 instruction clarifies that Schedule O must provide explanations for Part VI (not Part V on Form 990-EZ), lines 11b and 19. All Form 990-EZ filers are reminded that completion of Schedule O is required. Change type: Clarified.
Lines 35a–35b (Unrelated Business Income): Prior note indicated unrelated business income reporting applied to all organizations. 2014 instruction clarifies that organizations must answer line 35a if they had unrelated business gross income of $1,000 or more; if yes, line 35b requires confirmation that Form 990-T was filed for the year, with explanation in Schedule O if not. Change type: Clarified.
Form-Specific Limitations
Form 990-EZ cannot be used by organizations required to file Form 990 due to gross receipts of $200,000 or more, total assets of $500,000 or more, hospital facility operation, donor-advised fund maintenance, or status as a controlling organization under section 512(b)(13). Private foundations must file Form 990-PF, not 990-EZ. For 2014, section 4947(a)(1) nonexempt charitable trusts are treated as section 501(c)(3) organizations for purposes of Form 990-EZ completion, including mandatory attachment of Schedule A and completion of all schedules that section 501(c)(3) organizations must complete.
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This checklist is for educational purposes only and does not constitute tax or legal advice. Always review official IRS instructions and consult a qualified professional for guidance.
