Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| FORM 990 | THE TAXPAYER ADOPTS FOR BOOKS AND INCOME TAX PURPOSES THE FOLLOWING POLICY REGARDING CAPITALIZATION FOR THE YEAR BEGINNING JANUARY 1, 2020. IN ACCORDANCE WITH THE INTERNAL REVENUE SERVICE CODE SECTIONS 167 AND 168 AND RELATED REGULATIONS, THE TAXPAYER HAS DETERMINED THAT AMOUNTS WHOSE INDIVIDUAL COST DOES NOT EXCEED $2,500 WILL BE DEDUCTED AS AN OPERATING EXPENSE. AMOUNTS EXCEEDING THIS DOLLAR LIMIT WILL BE EXAMINED INDIVIDUALLY TO DETERMINE IF THEIR USE OR PURPOSE REQUIRES CAPITALIZATION UNDER THE BETTERMENT, ADAPTATION OR RESTORATION RULES USED BY THE INTERNAL REVENUE SERVICE AND WILL BE CAPITALIZED OR EXPENSED AS INCURRED AS A RESULT OF THE APPLICATION OF THOSE RULES. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE DIRECTORS/OFFICERS REVIEW THE TAX RETURN AT THEIR NEXT SCHEDULED MEETING PRIOR TO APPROVAL AND FILING OF THE TAX RETURN. IF ANY QUESTIONS ARISE DURING THE MEETING, THE TAX PREPARER IS CONTACTED TO DISCUSS IN FURTHER DETAIL. ONCE ALL ISSUES HAVE BEEN RESOLVED TO THE SATISFACTION OF ALL CONCERNED PARTIES, THE TAX RETURN IS ONCE AGAIN REVIEWED, SIGNED, DATED AND PREPARED FOR FILING. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES IT'S GOVERNING INSTRUMENTS, CONFLICTS OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |
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