Chapter Annual Financial Reporting and Responsibilities for Tax Filing

Annual Consolidated Financial Statements

All IRWA Chapters must report their income and expenses for the calendar year to IRWA annually. IRWA requests this information from our Chapters because the Association files a consolidated tax return that covers all IRWA Chapters. Chapters should not submit any forms to the IRS. By adopting this tax filing strategy, IRWA relieves local Chapters of the requirements to prepare form 990 or 990EZ. While IRWA is a not-for-profit organization, we still must file appropriate tax returns to maintain our tax exempt status. Each Chapter's cooperation is essential for this process to work effectively and efficiently.

In order for IRWA Headquarters to file a group return, each Chapter must complete the Excel spreadsheet provided by headquarters each year in December. The completed spreadsheet must be returned, via e-mail, no later than March 15 following completion of the calendar year. An original printed copy of the Excel report and a copy of the Chapter's bank statement as of December 31 must also be signed and mailed to Headquarters, attention Chief Financial Officer, by the same date. If a Chapter has its financial statements completed by a professional accountant, the Excel file must still be completed and returned via e-mailed by March 15. A brief guide defining what goes into each spreadsheet cell has been created for and can be accessed at the IRWA website, along with the current year's forms.

IRS Notices To Chapter

If a Chapter receives any notices from the IRS, fax them to the attention of the Chief Financial Officer as soon as possible. All tax matters are handled by the IRWA Headquarters. Timely completion of all required forms will prevent Chapters from receiving any notices from the IRS.

Please call the IRWA Chief Financial Officer at (310) 538-0233 ext. 139 with any questions.