Non-profit Tax Preparation Checklist
Reminder: 2021 taxes are due May 17, 2022 for calendar year filers
Basic Info
-
Determine IRS tax exempt status and type
-
Employer Identification Number (EIN) as registered with the IRS. If you don’t have an EIN, apply online at IRS.gov
-
All amounts and dates for federal, state, and local estimated tax payments made
-
Statement of organization’s mission and primary exempt purpose
-
List of program service accomplishments
Officer Info
-
List of organizations current or former officers, directors, trustees, key employees, and highest compensated employees, and current independent contractors
-
Reports for each person’s name, address and title
-
Reports detailing officers, directors, etc. compensation and benefits, and average hours per week devoted to the organization and related organizations
Organization and Financial Records
-
Statement of revenue and functional expenses
-
Balance sheet
-
Reconciliation of net assets
-
Reports detailing fundraising activities, fundraising events, and gaming
-
If a public charity, a list of supported and supporting organizations
-
Reports of contributions including name and address of contributor, and type and amount of contribution
-
Reports on grants and other assistance to organization
Organization and Financial Records
-
Reports on any tax-exempt bonds issued
-
Reports on related organizations and unrelated partnerships
-
Information regarding governing body and management, governance policies, and disclosure practices
-
Compiled, reviewed or audited financial statements
-
Information regarding any unrelated business income
-
Copy of all Form(s) 1099 and W-2 issued
-
Reports detailing all federal unemployment, Social Security, and Medicare tax paid (940 and 941)
-
Reports of state and local payroll tax paid
Asset Records
-
Prior year depreciation schedules detailing asset cost, date placed in service, prior depreciation, and business use percentage
-
Date of purchase, cost, trade-in allowance, and business use percentage for all assets acquired during the tax year
-
Date of purchase, cost, sales proceeds, trade-in allowance, expenses of the sale, and accumulated depreciation for all assets disposed of during the tax year
-
Mileage log for each owned or leased vehicle (business use and total use)
-
Reports for business use percentage and actual expenses for each owned vehicle (gas and maintenance costs)