The Center for Leadership & Involvement (CfLI) has published this guide on Taxes and Tax Exemption that will help you navigate IRS reporting requirements. 

Does your organization need to file taxes annually? 

• Has your organization taken in any funding (dues, donations, proceeds from fundraisers, etc.) during the past fiscal/calendar year? 

• Does your organization have an open account at a financial institution/bank? 

If the answer to EITHER of these questions is yes, then you should file the appropriate 990 series form with the IRS based on the organization’s annual revenue. 

Organizations should file the appropriate 990 series form annually by the 15th day of the fifth month after the close of your organization’s tax period/fiscal year. Unless you have established a specific fiscal year, your fiscal/tax year is January 1 - December 31, and the deadline for filing is May 15. 

The IRS website (https://www.irs.gov/) is the best location to find current tax information. Information specific to the 990 series forms can be found here: https://www.irs.gov/charities-non-profits/required-filing-form-990-series. You may also review CfLI’s tax guide for a condensed explanation of your tax filing requirements and a list of information needed to prepare your forms. 

Finally, if you have not already done so, the Law School strongly recommends that your organization create a filing system for your tax records. Make sure that incoming officers can access and understand the filing system so they are prepared to file taxes in future years. 

For questions or assistance with record keeping, please contact the Student Life & Engagement Manager (carlie.wiseley@wisc.edu).