video1.0<iframe src="https://www.loom.com/embed/16bf8206121940f886d51d82cae49c5c" frameborder="0" width="1280" height="960" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>9601280Loomhttps://www.loom.com9601280https://cdn.loom.com/sessions/thumbnails/16bf8206121940f886d51d82cae49c5c-e1f5e98d24d86cf6.gif308.085Today I’m talking about nonprofit tax return filing for local unions, and why you must file every year to keep your exempt status. If you miss three years in a row, the IRS can revoke it, which is expensive and means you may have to file corporate income tax. Which form you file depends on receipts and assets, with 990-N for under $50,000, 990-EZ for under $200,000 revenue and under $500,000 assets, and the full 990 otherwise. I walk through four categories of information to gather, basic info, financials, program service accomplishments, and leadership or high earning employees. I strongly recommend you connect with a trusted tax preparer to get it filed, but I do not ask you to do anything else.