What are the benefits that must be reported while filing Form 990?
30 views | Last modified 6/10/2020 7:22:08 AM EST | Added by ExpressTaxExempt Team

Applicable To
990-PF 990-N 990-EZ 990 8868 1120-POL

Benefits are generally non-wage compensation provided by organizations for employees in addition to their normal wages or salaries.

However while filing Form 990, an organization which is exempt under section 501(c)(8), 501(c)(9), or 501(c)(17) must report the insurance benefits paid to their employees and organizations under section 501(c)(12) must report patronage dividends paid to the members of the organization.

Here's how to add the benefits paid to members while filing Form 990 in ExpressTaxExempt:

  1. Log into your ExpressTaxExempt account.
  2. On the dashboard, click on the "Start Return" button.
  3. Select the "Tax Year" and "Form 990" option on the list of Federal Return.
  4. Enter your organization details and click "Next."
  5. In the "Organization Tax Year" page, select the tax year calendar or fiscal, for which you want to file the information return. Once done, the subsequent steps will be to fill the actual parts of the form.
  6. Under the Expenses section, click "Start" in Benefits Paid.
  7. Select "Yes" and click the Add Benefits Paid button to report the benefits paid to the members of the organization.
  8. Click Next and follow the subsequent steps as prompted.
  9. Review the details, Pay, and click the Transmit button to transmit your return to the IRS.

NOTE- Do not include the cost of employment-related benefits such as health insurance, life insurance, or disability insurance provided by the organization to its officers, directors, trustees, key employees, and other employees under this section.

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