It‘s a new year, and with it comes the annual responsibility for all 501(c)(3) nonprofit organizations to file their 990 tax returns for the 2023 tax year in the upcoming months.
There’s no need to worry, however, Tax990 has your 990 e-filing covered.
Understanding Your 990 Filing Requirements for the 2023 Tax Year:
Determining which IRS form an organization needs to file is contingent on its annual gross receipts and organizational structure. Tax990 now supports the following 990 Series Forms for the 2023 tax year:
- Form 990-N (e-Postcard): Designed for nonprofits with annual gross receipts of $50,000 or less.
- Form 990-EZ: Often referred to as the ‘short form’ A streamlined option for organizations with annual gross receipts below $200,000 and total assets under $500,000.
- Form 990 (Long Form): The standard form required for organizations with annual gross receipts greater than or equal to $200,000 (or) total assets greater than or equal to $500,000.
- Form 990-PF: Specifically for private foundations, irrespective of their annual gross receipts or total assets.
- Form 990-T: Additional filing required for organizations generating $1,000 or more in unrelated business income (UBI).
- Form CA-199: Mandatory for organizations operating in California, filed with the California Franchise Tax Board.
- Form 8038-CP: Used for reporting credit payments to issuers of qualified tax credit bonds.
Streamlined 990 E-filing from Tax990
Choosing an IRS e-file provider with advanced features is paramount in ensuring a seamless and efficient tax filing process. These advanced features, such as direct-form entry or interview-style filing options, internal audit checks using IRS business rules, and support for required schedules included in the filing fee, not only enhance accuracy but also streamline the overall experience. The availability of bulk upload options, the ability to copy information from prior filings, and support for prior year filing and amendments contribute to a user-friendly interface.
Additionally, features like secure collaboration for teams, instant IRS notifications for return status, and correction and retransmission of rejected returns at no additional cost provide a level of flexibility and responsiveness that is essential in navigating the complexities of tax compliance. Opting for an e-file provider with industry-leading data security, dedicated customer support, and access to free educational resources further underscores the importance of making an informed choice for a smoother and more reliable tax filing journey.
Tax990 supports you throughout the filing process and beyond with all of these awesome features:
- Direct-Form Entry or Interview-Style Filing Options: Choose the method that best suits your preference and workflow.
- Internal Audit Checks using IRS Business Rules: Enhances accuracy by implementing comprehensive internal audits.
- Required Schedules included in the filing fee: Streamlines the process by including necessary schedules without additional charges.
- Bulk upload options for importing information: Simplifies data entry by allowing bulk upload capabilities.
- Copy return information from the prior year: Saves time and ensures consistency by copying relevant information from previous filings.
- Prior year filing and 990 amendments supported: Accommodates changes and amendments seamlessly.
- Secure collaboration for teams within a single Tax990 account: Facilitates teamwork with a secure collaborative platform.
- Instant IRS notifications for return status: Stay informed with real-time updates on the status of your returns.
- Correction and retransmission of rejected returns at no additional cost: Correct errors without incurring extra charges.
- Industry-leading data security, including SOC 2 Certification: Prioritizes the security of sensitive information.
- Sharing of 990 returns for approval with organization officials and board members: Streamlines the approval process with secure sharing.
- Access to free resources: Leverage a wealth of free resources, including webinars, blogs, a YouTube channel, and an extensive knowledge base.
- Dedicated customer support: Reach out for assistance via phone, email, or live chat, ensuring that help is just a message or call away.
As nonprofits navigate the complexities of the 2023 tax year, Tax 990 is your reliable and comprehensive ally, committed to simplifying the filing process and empowering organizations to focus on their impactful missions!
