Year End Tax Filing!!!!
The time is fast approaching for Little Leagues to file fiscal year tax returns with the Internal Revenue Service, as well as sending in your league’s financial statement to Little League Baseball, Incorporated, in Williamsport, Pennsylvania.
There are approximately 4,400 Little Leagues under the Little League Federal Group Tax Exemption and 501(c)(3) status for charitable contributions. Those leagues covered under Little League Federal Group Tax Exemption and Internal Revenue Service Code 501(c)(3) are required to forward a copy of their annual financial statement for the period ending September 30, 2005. There is a sample financial statement in the operating manual to use as a guideline. If you haven’t already done so, please send the statement with your League I.D. # on it to Little League Baseball, Incorporated, 539 U.S. Route 15 Highway, P. O. Box 3485, Williamsport, PA 17701-0485.
For Little Leagues with gross receipts in excess of $25,000.00 but under $100,000.00, IRS Form 990-EZ with Schedule A should be filed with the IRS by deadline February 15, 2006. For Little Leagues with gross receipts in excess of $100,000.00, Form 990 with Schedule A should be filed with the IRS by deadline February 15, 2006. Leagues with gross receipts less than $25,000 who have not filed in the past would not be required to. The address for the tax returns to be filed is: Internal Revenue Service Center, Ogden, Utah 84201-0027. The law imposes a penalty of $20.00 a day, up to a maximum of $10,000.00, when a return is filed late unless there is a reasonable cause for delay.
All Little Leagues that file a return are required to include their League I.D. Number and Employer dentification Number (E.I.N.) on their tax return along with the correct current name and address of the league president. Each chartered Little League is considered a separate entity and, therefore, the IRS assigns a separate E.I.N. for each league, even though some leagues elect officers under multiple management to cover more than one league. Each chartered Little League is required to file a separate tax return.
If there are any changes to the assigned E.I.N. for your league, please send Little League International a written notification so they can update their records to be in compliance with IRS regulations and so your league will be recognized under our group exemption number.
If you need additional information, you can contact Becky Bassett at 570-326-1921, Ext. 228, or by e-mail at bbassett@littleleague.org.
Camilla