ANSWER: File the appropriate form as soon as possible. Choose one of three forms according to your PTA’s “normal” income:
•990-N (epostcard)—PTAs with a total income “normally” below $50,000 would complete a 990-N (epostcard). There is no penalty for filing an e-postcard late, but PTAs that fail to file for three consecutive years will have their tax-exempt status automatically revoked.
•990EZ—PTAs with a total income “normally” over $50,000 and less than $200,000 would complete the 990EZ.
•990—PTAs with total income of $200,000 or more would complete the 990 Form.
To figure out your PTA’s “normal” income, add the income from the current year and the two previous years, then divide by three. Contact Tatia Vasbinder at the WSPTA office for help with this process or if you have any questions.