The Treasurer Corner

IRS Filing requirements:

If your club is required to file an IRS Form 990 each year, and your tax year ends December 31, then the return was due on August 15, 2007. IF it was extended! If you didn't file the extension by May 15, 2007, then you need to file AS SOON AS POSSIBLE. An additional three month extension, to November 15, 2007 is available, IF you filed the first extension.

If your Tax Year is anything else than calender year, (most are in sync with the Rotary Year: July-June), then the due date is 5 1/2 months after the end of your fiscal year. So, if you follow the Rotary year, and you close your books on June 30, your 990 is due November 15, 2007.

Please note, that starting after 1/1/07, All CLUBS must file a form 990 with the IRS. More details on this later.

Please contact me at 302-992-0129 if you have any questions.

Jim Whisman
District Treasurer

The Treasurer's Corner