December 16th Form 990 Deadline Is Upon Us: Unlock Efficient Filing With Tax990

The clock is ticking for certain nonprofits as Today (December 16) marks the last day to file 990 Series returns. Depending on their accounting period, many organizations must complete and submit their forms to the IRS today.

For nonprofits, filing 990 Series returns isn’t just about meeting regulatory requirements, it is also vital for maintaining transparency, credibility, and trust within their community. Missing this crucial deadline can lead to serious consequences, including penalties, risking tax-exempt status, and damage to the organization’s reputation.

Organizations Confronting 990 Deadline Today

The IRS mandates that nonprofit organizations file their 990 forms by the 15th day of the 5th month after the end of their tax year. For nonprofits operating on a fiscal year from August 1 to July 31, then their 990 filing deadline falls on December 16.

This deadline also applies to organizations that filed for an extension using Form 8868, with their original deadline being June 17, 2024. 

Since the 15th of the month fell on the weekend, the deadline has moved to December 16, i.e., Today.

990 Forms Due Today

All types of 990 forms share a common filing deadline. Nonprofits must choose the appropriate form based on their organization’s size and financial details:

• Form 990-N: For organizations with gross receipts of $50,000 or less.
• Form 990-EZ: For organizations with gross receipts under $200,000 and total assets under $500,000.
• Form 990: For organizations with gross receipts of $200,000 or more or total assets of $500,000 or more.
• Form 990-PF: For organizations classified as private foundations.
• Form 990-T: For organizations with $1,000 or more in unrelated business income.
  

Tax990: Your Reliable Solution for Meeting This Deadline

Tax990 is designed to simplify nonprofits’ preparation and filing process, even for last-minute submissions. Here’s how Tax990 helps nonprofits meet the deadline:

• Auto-Included Schedules: Tax990 automatically adds all required schedules at no additional cost.
• Flexible Filing Options: Choose between direct form entry or interview-style filing for added convenience.
• Internal Audit Check: Tax990 reviews completed forms for errors and missing information based on IRS business rules, reducing the chances of rejection.
• Free Retransmissions: If the IRS rejects a return, errors can be corrected, and the form can be retransmitted at no extra charge.
• Reviewers and Approvers Feature: Share returns with board members for review and approval before filing.

Specialized Features for CPAs and Tax Preparers

Tax990 also provides tailored solutions for CPAs and tax professionals to enhance filing efficiency:

• Team Management: Invite team members and delegate filing tasks efficiently.
• Client Management: Share completed returns with clients for review and approval before submission.
• E-signing Options: This option streamlines the e-signing on Forms 8453-TE and 8879-TE to ensure filing compliance.  

Don’t wait until it’s too late! Let Tax990 streamline the process and ensure compliance before the end of the day.