HOPE2
Level 9
‎06-08-2024 06:30 PM

Hi to all.

My question is about 990-EZ part IV List of officers in previous tax return:   it shows on column (b) Average hours per week devoted to position is Zero. I reviewed 990-EZ instruction it can be zero if applicable. What does it mean if applicable?

If officer devoted few hours should have a W-2?

Thanks for help!

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Jim-from-Ohio
Level 11
Level 11
‎06-09-2024 05:36 AM

Were there actual wages paid?  The 990-EZs that I have done are all run by volunteers.. I show the # of hours worked, whcih is usualluy a small number, and I show zero for wages. 

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HOPE2
Level 9
‎06-09-2024 04:30 PM

Thanks@Jim

Also, as you know for under $250000 in 1120-S we can ignore for balance sheet how about 990-EZ?

Thanks for help!

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sjrcpa
Level 15
‎06-09-2024 06:06 PM

Look at the 990-EZ. There is a "mini" balance sheet.


The more I know the more I don’t know.

View solution in original post

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abctax55
Level 15
‎06-09-2024 07:16 PM

As Susan says, it is there.  Page one, at the bottom.  And yes, it has to 'balance'.

HumanKind... Be Both
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HOPE2
Level 9
‎06-22-2024 02:14 PM

Thanks@Jim-from-Ohio

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