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Schedule O (Form 990 or 990-EZ) is a supplemental document used by organizations to provide additional narrative information required for specific questions on Form 990 or 990-EZ. It allows organizations to explain their operations and responses, ensuring compliance with IRS requirements. All organizations filing these forms must use Schedule O to clarify details related to governance, financial statements, program services, and other relevant information.

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What is a schedule 0 on a 990-EZ?

Schedule O is used to provide the IRS with detailed information and explanations for certain responses given on Form 990 or 990-EZ in one place instead of in multiple separate attachments. Note: organizations may still have to attach separate attachments for Late returns, Amended returns, or Group returns.

What is a controlled group schedule O?

A Schedule O (Form 1120) is an IRS tax form that must be filed by a corporation that is part of a controlled group of corporations. This schedule provides information on the consent plan and apportionment of taxable income within the controlled group.

Who is a Schedule C?

Use Schedule C (Form 1040) to report income or loss from a business you operated or a profession you practiced as a sole proprietor. An activity qualifies as a business if: Your primary purpose for engaging in the activity is for income or profit. You are involved in the activity with continuity and regularity.

What is Schedule 5471 Schedule O?

Schedule O (Form 5471), Organization or Reorganization of Foreign Corporation, and Acquisitions and Dispositions of its Stock. Foreign corporations that file Form 5471 use this schedule to report the organization or reorganization of a foreign corporation and the acquisition or disposition of its stock.

What is a schedule O?

What is the purpose of Schedule O? Schedule O is used to provide the IRS with narrative information required for responses to specific questions asked on Form 990 or 990-EZ and to explain the organizations operations, governance, financial activities, or responses to various questions.