PAC Notes
Year-end Reporting Due Dates
& Transitional Filings
Betty Hill, TFRW PAC Chairman
Cynthia England, CPA, TFRW Financial Compliance Advisor
Note: The information contained below is not intended as legal advice, but to provide a general understanding of situations a PAC Treasurer might encounter. Please consult the TEC or an attorney for advice on specific circumstances.
ALL CLUBS: PAC Reports will be due to the TEC on January 15, 2008.
If you are an outgoing PAC Treasurer, your Termination Report will be due no later than 10 days after your new PAC Treasurer files an AGTA with the TEC listing her as the new PAC Treasurer.
In addition to your semi-annual TEC GPAC report, other reports might be due. The reporting forms and periods below will apply to most of our clubs.
Reporting Due Dates
|
Report Due Date |
Reporting Entity |
Report Title |
Period Covered |
|
January 15, 2008
|
Texas Ethics Commission |
January Semiannual GPAC
A complete list of TEC reports and reporting due dates is available on the TEC website: www.ethics.state.tx.us |
From the latter of: · July 1, 2007 · The date of your last PAC Treasurer appointment · The day after the ending date of your last report Through December 31, 2007 |
|
January 20, 2007 |
Texas Comptroller of Public Accounts |
Texas Sales & Use Tax Return |
Calendar year 2007 IF any sales are made during the year. |
|
January 31, 2007 |
Internal Revenue Service |
1120-POL |
Calendar year 2007 IF interest earned exceeds $100 annually. |
|
May 15, 2007 |
Internal Revenue Service |
990-N –NEW THIS YEAR For clubs with gross annual revenue LESS THAN $25,000 |
All clubs MUST report their contact information to the IRS. Failure to do so 3 years in a row will result in loss of the club’s non-profit status. |
|
May 15, 2007 |
Internal Revenue Service |
990 or 990-EZ For clubs with gross annual revenue of $25,000 |
Calendar year 2007. |
Transitional Reports to be filed if club Treasurers and/or PAC Treasurers change
|
Suggested Filing Date |
Reporting Entity |
Report Title |
Information Reported |
|
January 2, 2008 |
Club’s Bank(s) |
Signature Cards |
Signatures and contact information for those who will sign checks and receive bank statements PLUS minutes of meeting electing new officers. |
|
January 1, 2008
|
Texas Ethics Commission |
AGTA
|
New PAC Treasurer information. Be sure to include and Assistant PAC Treasurer on this report. |
|
January 20, 2007 |
Texas Comptroller of Public Accounts |
Online Change of Address at |
Address of individual who will be filing Sales & Use Tax Returns. |
|
January 31, 2007 |
Internal Revenue Service |
8822 Parts II & III |
Calendar year 2007 IF interest earned exceeds $100 annually. |
Circular 230 Disclosure: Pursuant to requirements related to practice before the Internal Revenue Service contained in IRS Circular 230, any tax advice contained in this communication (including any attachment) is not intended to be used, and cannot be used, for purposes of (i) avoiding penalties imposed under the United States Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any tax-related matter.
TEC Contact Numbers
Direct: 512-463-5800 Toll-free: 1-800-325-8506 Tech Support: 888-832-5445
Website: www.ethics.state.tx.us