Form 990 (Schedule K) for Eugene Oregon 2024-2025

Form 990 (Schedule K) for Eugene Oregon: What You Should Know

Schedule O provides information on the organization's total tax debt for the prior calendar year, including the amount of gross income each taxpayer may have reported. You can find out whether you are required to disclose the total tax debt by reviewing the Instructions for Schedule O (Form 990). All tax debt information is confidential when filed. The organization may decide not to file or use Schedule O. This form requires organizations to provide certain information to the government. In 2012, Form 990-T filed by nonprofits that operate more than 50 locations was amended. The amended form provided the following new requirements under section 501(c)(3).   (1) In the first taxable year for which information is disclosed, a group shall report the total amount of gross receipts and gross income of each individual it employs or contracts with for service or compensation for services as an employee. (2) When an organization engages or contracts with an individual for service or compensation in the course and scope of the organization's exempt activity in a taxable year, the organization shall disclose the following information for each individual to whom such services or compensation were furnished. The organization or individual shall report the total amount of gross receipts and gross income of each such individual at the time such services or compensation were furnished. (3) For the purposes of paragraph (1) of this section, total gross receipts include all receipts from any business conducted by the individual (including earnings from business activities or property rights derived from such services), all expenses paid by the individual for his compensation, and all gross income of the organization received by the individual, including, but not limited to, amounts received as a commission, share value, stock, dividends, rents, interest, and all rents, fees, or profits from business interests. Gross income, for purposes of paragraph (1) of this section, includes any interest paid by the individual, unless it was deductible as a business expense, taxable income of the organization (determined without regard to this paragraph and paragraph (6) of section 162(l) or for section 61, the limitation on itemized deductions allowed by section 63), annuities, rent paid on the death of the individual, and any other payments received by the individual as an incentive to provide services.

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