Did you know that your homeschool group should be filing some reports every year with the IRS?
In this episode of the Dollars and Sense Show, host Carol Topp, the HomeschoolCPA, explains what forms homeschool groups should be filing with the IRS.
She’ll answer common questions such as:
- We were told if our income is under $25,000 a year, we don’t have to file anything with the IRS. Is that true?
- What changed? We never had to file anything with the IRS before!
- But we’re not a 501c3 organizations (or don’t want to be), so why do we need to file anything with the IRS?
- We don’t like government intervention. Why do we need to have anything to do with the IRS?
- Our homeschool group doesn’t make any profit, so why do we have to file a tax return?
- We’ve never filed anything with the IRS? We didn’t know we had to! Now what? Will be owe back taxes?
For help understanding your required IRS filings, visit Carol Topp’s website, HomeschoolCPA.com
Here’s a helpful FAQ page explaining the IRS Form 990-N.
Carol is also willing to arrange a phone consultation with your homeschool leaders. Contact her here.