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jkcutshall65
New Member

Does a Domestic Non-profit corporation need to file? The corporation is NOT tax-exempt but does not take in money aside from annual dues

We are a hobby group that incorporated only to get a bank account. We collect money from craft shows and redistribute the funds to the individuals who then pay the taxes.
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AmyT
New Member

Does a Domestic Non-profit corporation need to file? The corporation is NOT tax-exempt but does not take in money aside from annual dues

If you have an EIN, you will need to file a return.

When you apply for an employer identification number (EIN), the IRS automatically determines what tax returns (income tax and employment tax) it expect that you will file.  If you do not file all returns as outlined in the acceptance letter received about your EIN, the IRS will start sending you notices and may assess failure-to-file penalties.

If you need software to file your 1120 (or 1120-S), you can find TurboTax for small business at https://turbotax.intuit.com/small-business-taxes/

Note:  Not-for-profit (tax exempt under section 501) organizations are also required to file returns every year, or risk losing their exempt status.

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