Tax Return Help

redn8

Charter Member
Paid Member
I need some help filing a tax return for our Club. I have talked with the IRS and a Tax acct and the form I was told to use (1120) boggles the mind.

HELP!!!!!
 
RE: Tax Return Help

I tried both and the result was the same, nutin!

I should have asked you first.
 
RE: Tax Return Help

Norm,

Did you get the info you needed to file the tax return on the 1120? Basically, you show your income minus your expenses. If you have taxable income, the corp owes taxes. Also depends if the club is a non-profit organization. Let me know if you need help. I would gladly donate my services to help out the club.
 
RE: Tax Return Help

Thanks! Darren is helping but I can use all the help I can get.

Let me say that the Club is an incorporated non profit organization.

We are not tax exempt but have a tax ID#. Looking at form 1120 of which there are several it just doesn't look right for what we need.

I think brain surgery would be easier than filling out this crazy from.

Well the Nurse is calling I have another open heart surgery to preform.
 
RE: Tax Return Help

On the IRS web page that you previously posted, the Form 1120 on page 2, item #23 would be the form that you should use. But if your non profit, you may be looking at Form 990. What form was filed for 2001? That would be your best bet.
 
RE: Tax Return Help

We weren't inc the year before. I wish we were so I had some guide to go by.
 
RE: Tax Return Help

In your prior post you stated LOD is a non profit org and are not tax exempt. Non profit orgs are tax exempt.

In order for you to get your EIN, Employer Identification Number or tax ID#, you filed a form SS-4. In order to become non profit, you had to file massive paperwork to get a 501(?) classification. If all you filed was an SS-4, then LOD is a regular corporation. If your year end date is December, the 1120 tax return was due March 15th and hopefully an extention was filed. If a different month for year end was chosen, the tax return would be due 2-1/2 months after that month selected. The month selected would be on the SS-4. For instance, if LOD chose June as fiscal year end, the tax return would be due September 15th.
 
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