Even Though a Church Is Not Required to Obtain IRS

question 39

True/False

Even though a church is not required to obtain IRS approval of its exempt status, it still must file Form 990 (Return of Organization Exempt from Income Tax) annually.

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Definitions:

Overdue

Refers to something being past its expected or scheduled time, often used in the context of payments or tasks.

Primarily Liable

Refers to the party that bears the first or main responsibility for fulfilling an obligation or debt.

Secondarily Liable

Liable for paying the amount designated on an instrument if the primarily liable party defaults.

Signature Liability

Liability attributed because of a party’s signature on an instrument.