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American Legion Dept of Texas
2022-04-25 Legion Financial Officer Notice

Why May 15th is so important for so many Post Finance Officers:

Each Post is having to be reactive and hopefully proactive to this national crisis we're facing. At the same time, we're coming up on May 15th. What's the importance of this date? Many of our American Legion Texan Posts use the calendar year as their fiscal year. May 15th is the date your IRS Form 990 is due, on the 15th day of the fifth month after the close of your fiscal year. So, if you are the Post Finance Officer and your Post uses Jan-Dec, Dec 31st is the end of the fiscal year. May 15th is the 15th of the fifth month after Dec 31st.

Many, many Posts qualify for what we know as the 990-N, the electronic filing response, since they had gross revenues under $50,000. This is completed on a computer and the IRS has excellent instructions on their website.

If the Post has gross receipts less than $200,000 and total asset less than $500,000 at the end of the year, it can file Form 990-EZ, instead of the Form 990. If your Post also has a 501(c)(3) corporation (usually for scholarship funds), a separate Form 990-T will be required. Lastly, for a Post with gross receipts of $200,000 or more, or total assets at the end of the year is $500,000 or more, the Form 990 must be completed.

Regardless, please ensure to double-check all entries and, if filing a paper copy, sign your form and keep a copy for the Post records.

Remember, you owe it to your Post to ensure you do not cause the Post to lose it's non-exempt status by either not filing or filing late.

Please share this information down to the post level.

Steve Cook Jr.
State Treasurer
The American Legion, Dept. of Texas

"If serving is below you, leadership is beyond you" - Anonymous