IRS Form 990-EZ 2015 Tax Year Checklist
Year-Specific Summary
Form 990-EZ for 2015 applies exclusively to organizations with annual gross receipts of $200,000 or less and total assets of $500,000 or less at year-end. This year contains no stimulus reconciliation rules, ACA shared responsibility requirements, or TCJA provisions. The 2015 form allows short-year filers to use either the 2014 or 2015 editions, with the 2015 form also usable for short periods beginning in 2016 and ending before December 31, 2016. No material line redesigns occurred; Part VI (501 (c)(3)-specific governance questions) remained unchanged from prior years.
Ten-Step Filing Checklist for 2015 Form 990-EZ
Step 1: Verify Eligibility
Confirm that the organization has gross receipts of under $200,000 and total assets of under $500,000 at year-end. If either threshold is met or exceeded, file Form 990 instead. Confirm the organization is not a private foundation, donor-advised fund sponsor, hospital operator, or controlling entity under section 512(b)(13). Organizations that meet these exclusions must still file Form 990, regardless of the size thresholds.
Step 2: Determine Accounting Method
Use the same accounting method (cash or accrual) on the 990-EZ as the organization uses in its books and records. If changing the accounting method during the 2015 tax year, explain on Schedule O and ensure proper IRS notification procedures are followed. Consistency in accounting methods from year to year is expected, unless there is a valid business reason for change.
Step 3: Gather Revenue Documentation
Collect Form W-2s for all employees, 1099-MISC for independent contractors, Form 1098-T (if applicable), K-1s from partnerships or S-corporations (if applicable), and statements showing contributions, grants, and investment income. Organize documentation by revenue category to facilitate accurate completion of Part I lines 1 through 8.
Step 4: Complete Part I (Revenue, Expenses, Changes in Net Assets)
Report contributions, gifts, and grants on line 1. Report program service revenue on line 2, membership dues on line 3, investment income on line 4, gain or loss from sales of assets on line 5c, gaming income on line 6a, fundraising event income on line 6b, inventory sales on line 7c, and other revenue on line 8. Report total revenue on line 9 by adding lines 1 through 8.
Report grants and similar amounts paid on line 10, benefits paid to members on line 11, salaries and compensation on lines 12-13, professional fees on line 14, occupancy on line 15, printing and postage on line 16, and other expenses on line 17. Calculate excess or deficit on line 18. Report net assets at the beginning of the year on line 19, any increases on line 20, and net assets at the end of the year on line 21. Ensure line 21's net assets agree with Part II, line 27, and column B.
Step 5: Complete Part II (Balance Sheet)
Report beginning-of-year assets and liabilities in column A; end-of-year amounts in column B. Line 22 reports cash, savings, and investments. Line 23 reports land and buildings. Line 24 reports other assets. Line 25 reports total assets. Line 26 reports total liabilities. Line 27 reports net assets or fund balances (line 25 minus line 26). Line 25 column B total assets must remain under the $500,000 threshold. Ensure that column A's beginning balances match the prior year's ending balances.
Step 6: Complete Part III (Program Service Accomplishments)
Describe the primary exempt purpose on line 28. Describe each major program service on lines 29-31, including program service accomplishments, expenses allocated to each program, and revenue generated by each program. Report total program service expenses on line 32. This section demonstrates how the organization fulfills its exempt purpose.
Step 7: Complete Part IV (Officers and Key Employees)
List each officer, director, trustee, and key employee regardless of compensation level, including those with no compensation (enter -0- in compensation columns if applicable). The instruction at Form 990-EZ Part IV states: “list each one even if not compensated.” Include name and title in column (a), average hours per week in column (b), reportable compensation from the organization in column (c), reportable compensation from related organizations in column (d), and estimated amount of other compensation from the organization and associated organizations in column (e). Use W-2 and 1099-MISC forms to determine reportable compensation amounts.
Step 8: Complete Part V (Other Information) and Part VI if Applicable
Answer all yes/no questions in Part V, lines 33-46. These questions address significant organizational activities, including unrelated business income, political activities, lobbying activities, and compliance matters. Suppose the organization is a section 501(c)(3); complete Part VI governance questions on lines 47-52. Part VI addresses compensation practices and governance policies, including a conflict of interest policy, a whistleblower policy, and a document retention policy. Answer whether the organization filed Form 990-T if unrelated business gross income exceeded $1,000.
Step 9: Attach Required Schedules
Include Schedule O (supplemental information) if responding to any Part V or Part VI question requiring narrative explanation or additional detail. Include Schedule A for section 501(c)(3) organizations to establish public charity status and report public support calculations. Include Schedule B if required. Section 527 political organizations must list specific contributors, while most other organizations file Schedule B with the IRS, but the contributor names remain confidential.
Include Schedule L if the organization reported excess benefit transactions, loans with interested persons, or grants to interested persons. Include Schedule G if the organization reported gaming, fundraising events, or professional fundraising expenses exceeding $15,000. Attach Form 990-T if the unrelated business taxable income exceeded $1,000 during the year.
Step 10: Sign and Date Return
An officer authorized to sign the organization’s tax return must sign and date the return under penalties of perjury. If a paid preparer completes the return, the preparer must sign with the current Preparer Tax Identification Number (PTIN), include the firm name and address, and indicate whether the preparer is self-employed. No social security numbers may appear on the form, as it will be publicly available through IRS disclosure requirements. File by the 15th day of the 5th month after the accounting period ends (May 15, 2022, for calendar-year 2015 filers). Request an automatic six-month extension before the due date using Form 8868 if additional time is needed.
Form-Specific Limitations
Form 990-EZ cannot be filed by organizations with total assets of $10 million or more at year-end, even if under $200,000 gross receipts. Organizations that operate hospital facilities, maintain donor-advised funds, or are controlling organizations described in section 512(b)(13) must file Form 990 regardless of gross receipts or asset levels. Private foundations must file Form 990-PF instead of Form 990-EZ.
Organizations filing multiple returns during the calendar year must file Form 990, not 990-EZ, if they have $10 million or more in total assets at year-end. Section 509(a)(3): Supporting organizations must file Form 990 or 990-EZ and cannot use Form 990-N electronic postcards, regardless of their gross receipts level.
Key Compliance Notes
All Form 990-EZ returns become public documents available for inspection. Organizations must ensure the accuracy of all reported figures, as discrepancies may result in an IRS examination. Organizations that change their accounting period must file a short-period return and may need to file Form 1128, depending on the circumstances. Failure to file required information returns by the due date may result in penalties unless reasonable cause can be demonstrated.
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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.
