Which of the Following Statements Regarding Exempt Organization Filing Requirements

question 38

Multiple Choice

Which of the following statements regarding exempt organization filing requirements is incorrect?

• A)Churches are required to file Form 990 (Return of Organization Exempt from Income Tax)only if its annual gross receipts exceed $25,000.
• B)The due date for Form 990 (Return of Organization Exempt from Income Tax)is the fifteenth day of the fifth month after the end of the taxable year whereas for private foundations the due date for Form 990-PF (Return of Private Foundation)is the fifteenth day of the fourth month after the end of the tax year.
• C)All exempt organizations whose annual gross receipts do not exceed $25,000 do not need to file either Form 990 (Return of Organization Exempt from Income Tax)or Form 990-PF (Return of Private Foundation).
• D)Only a.and b.are incorrect.
• E)a. ,b. ,and c.are incorrect.

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Definitions:

Pituitary Gland

The body’s “master gland,” which is located in the lower central part of the brain and which secretes many hormones essential to development, such as oxytocin, prolactin, and growth hormone.

Adrenal Glands

Endocrine glands located above the kidneys, responsible for producing critical hormones, including adrenaline and cortisol, that regulate stress responses and metabolism.

Forceps

A medical instrument resembling a pair of tongs, used for grasping, manipulating, or extracting, especially in deliveries to assist in childbirth.

Vacuum Extraction Tube

A device typically used during childbirth to assist in the delivery of a baby by applying suction to the baby’s head.