990 May deadline 2024

Urgent Reminder: File Your 990 Return By Midnight to Maintain Nonprofit Tax Compliance

Today is the last day to file your 990 returns!

If your organization follows the calendar tax year or acquired an extension on November 15, 2023, then you are likely required to file your 990 return before the end of the day. 

In this blog, we’ll explore everything you need to know to navigate this deadline successfully.

Information Required to Complete 990 Returns

To successfully complete your organization’s 990 return, ensure you have the following information readily available.

  • The organization’s basic information
  • Financial information such as revenue, expenses, assets, and liabilities
  • Program service accomplishments
  • Other IRS filings and tax compliance requirements
  • Compensation of key employees, governing body, and management details

Keep in mind that the required information will vary depending on the type of 990 Form you’re filing. For example, Form 990-N only needs your organization’s basic details.

Consequences of Late Filing 990

Failing to file Form 990 on time can lead to unnecessary repercussions. Besides incurring penalties ranging from $20 to $120, there’s also the risk of losing your organization’s tax-exempt status if you fail to file Form 990 for three consecutive years. This could significantly impact your operations and credibility. Therefore, it’s crucial to adhere to deadlines and mitigate the risk of facing these adverse consequences.

Extending the 990 Deadline

If you’re not prepared for this deadline, you can always choose to extend it. The IRS permits extensions without requiring a reason. By submitting Form 8868, you can secure an automatic extension for six months. It’s important to note that these extension requests must be made on or before the deadline.

E-file Mandate for 990

In recent years, the IRS has required tax-exempt organizations to electronically file 990 forms, aligning with the modernization of the tax filing process. Electronic filing enables the IRS to promptly confirm receipt of the return, streamlining processing and simplifying compliance with reporting and disclosure requirements. This can ultimately improve the transparency, accuracy, and accessibility of your organization’s information.

Let Tax990 Ease Your Last-Minute Filing Stress

Using Tax990 can help simplify the complexity of meeting this deadline. Our software includes user-friendly features and customized instructions designed for nonprofit tax filings, making compliance easier and ensuring accurate submissions. Plus, we offer convenient customer support via live chat, phone, and email to promptly assist with any questions.

By understanding the e-file mandate, gathering necessary information, and avoiding late filings, you can navigate your process effectively, reinforcing trust with the public and helping you further your missions effectively. 

Need to file your organization’s 990 return at the last minute? No problem. With Tax990, returns can be filed quickly and efficiently. Start Now!

990 e-filing for 2023


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