I am the new Treasurer for this school year. There were virtually NO records kept last year and all board members have since moved. I do know that we are not a 501 3(c) but we do have a EIN number for our PTO. What tax forms do I have to file with the IRS and when do I do this> - jeciwall28
You're in an in between position where your PTO is an independent business but isn't a recognized tax-exempt charity. The IRS would say you need to apply for 501c3 status. They would like all independent PTOs to be registered 501c3's. If you're not a 501 organization, you probably should technically be filing standard business tax forms. There are lots of parent groups in your position, and most of them don't file any tax forms. Our understanding from the IRS has been that the IRS isn't seeking out groups like this to make them pay taxes -- instead they want them to file for 501c3. Standard disclaimer -- I'm not a lawyer or an accountant, and this isn't legal advice. It's just a summary of what we've learned from talking to the IRS and observed from their actions with other parent groups.
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