Today, January 15, 2025, marks a critical deadline for certain nonprofit organizations to file 990 series returns. Ensuring timely and accurate filing is essential for maintaining compliance with IRS regulations and preserving the trust of your community.
In this blog, we’ll discuss everything you need to know about this 990 deadline and how Tax990 can help streamline the process.
Who Needs to File by January 15th?
The IRS mandates that nonprofit organizations file their 990 forms by the 15th day of the 5th month following the end of their tax year. This January 15th deadline applies to:
- Nonprofits with a fiscal year ending August 31.
- Organizations that received an extension via Form 8868 for their original deadline on July 15, 2024.
Comprehensive Support for Various 990 Forms
Tax990 supports a wide range of forms necessary for nonprofit organizations, including:
- Form 990-N: For small nonprofits with gross receipts of $50,000 or less.
- Form 990-EZ: For nonprofits with gross receipts under $200,000 and total assets below $500,000.
- Form 990: For nonprofits with gross receipts of $200,000 or more or total assets of $500,000 or more.
- Form 990-PF: For private foundations, regardless of receipts or assets.
- CA Form 199: Required for California nonprofits to comply with state regulations.
- Form 8868: For requesting a six-month extension for Form 990 or other returns.
- Form 1120-POL: For political organizations to meet federal tax filing obligations.
- Form 8038-CP: For issuers of tax-exempt bonds to claim credit for interest payments.
Why Choose Tax990 for Your Filing Needs?
Tax990 offers a range of features designed to simplify and streamline the filing process:
- Flexible Filing Methods:
- Interview-style filing: Perfect for new users, guiding them step-by-step through the process.
- Form-based filing: Ideal for experienced users who prefer direct input for more control.
- Automatic Inclusion of Schedules: Relevant schedules are added based on your data, ensuring a complete submission at no extra cost.
- Copy Data Option: Easily copy data from previous returns filed with Tax990 or from 990-EZ returns filed elsewhere, saving time and reducing errors.
- Internal Audit Check: A built-in audit feature reviews your forms for IRS compliance and provides real-time feedback to correct errors before submission.
- Free Retransmission of Rejected Returns: If your return is rejected, you can correct and resubmit it at no additional charge.
- File First Amendment for Free: If you’ve filed your original return with us, your first amendment is completely free of cost.
Exclusive Features for Tax Professionals
Tax990 offers advanced tools tailored for tax professionals:
- Team Management: Invite team members, assign tasks, and track real-time progress.
- Client Management: Manage multiple clients efficiently, ensuring their approval before submission.
- E-signing Options: Securely obtain e-signatures on Forms 8453-TE and 8879-TE, simplifying the filing process.
Don’t let the January 15th deadline stress you out! With Tax990, you have a trusted partner to ensure accurate, timely, and simple filing. Start now and keep your organization compliant and your community’s trust intact!
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