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I have a EIN for a local youth basketball team for banking purposes only. Do i need to file?

 
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4 Replies

I have a EIN for a local youth basketball team for banking purposes only. Do i need to file?

No. There is nothing you need to file on your personal tax return. 

The organization may need to file tax Form 990.

For more information, follow this link: Non-Profit Tax Returns

I have a EIN for a local youth basketball team for banking purposes only. Do i need to file?

the basketball team raised $5k for their expenses.  EIN was only for to get a bank account and to hold the money raised.  I cant find anything stating as to if they need to file or not.

I have a EIN for a local youth basketball team for banking purposes only. Do i need to file?

You don't. This doesn't qualify.

I have a EIN for a local youth basketball team for banking purposes only. Do i need to file?

What if you did not request tax-exempt status when applying for the EIN?  What form would you file and what exactly are the filing requirements for this type of situation?

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