The June 16th Form 990 Deadline is Almost Here: File Now to Avoid Penalties!

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The June 16th deadline is rapidly approaching, and your nonprofit cannot afford to miss it. With just 3 days left until the Form 990 deadline, thousands of tax-exempt organizations are racing to file. Failing to submit Form 990 on time can result in costly IRS penalties and even the risk of losing tax-exempt status. In this post, we will break down who needs to file, how to do it quickly, and the most efficient way to file.

Who Must File

Nonprofits and tax-exempt organizations whose fiscal year ended on January 31, 2025, must file their 990 forms by this deadline. Additionally, if your original deadline was July 31st and you filed an 8868 to obtain a 6-month extension, then your extended deadline is June 16th. 

This deadline applies to a variety of tax-exempt entities, including charities, foundations, and other nonprofit organizations, depending on their gross receipts and total assets. It’s crucial they file the correct version – Form 990, 990-EZ, or 990-PF – based on their financial size to avoid IRS penalties and maintain their tax-exempt status.

File Now and Avoid Late Filing Penalties

Late filing of your 990 can lead to IRS penalties,  which vary based on the organization’s gross receipts. According to the IRS, smaller organizations will receive a penalty of $25 a day (without exceeding $12,500 or 5% of gross receipts). Organizations with annual gross receipts exceeding $1,274,000 are subject to a penalty of $125 a day (with a maximum penalty for any one return of $63,500).

According to the IRS, “An organization that fails to file the required information return (Form 990, Form 990-EZ, or Form 990-PF) or e-Postcard (Form 990-N) for three consecutive tax years will automatically lose its tax-exempt status.” Overall, consistently filing on time is essential to maintaining compliance with the IRS and preserving your tax-exempt status. 

Need More Time to File? Request an 8868 Extension 

The IRS allows tax-exempt organizations to request an automatic 6-month extension to file 990 forms by submitting Form 8868. This extension gives nonprofits more time to complete and file Form 990, 990-EZ, 990-PF, or 990-T without incurring late penalties.

Tax990: Last Minute Filing Made Easy

Our streamlined, IRS-authorized e-filing platform is built for speed, accuracy, and ease. Tax990 walks you through step-by-step, helping you avoid costly mistakes and late penalties. With built-in error checks, live customer support, and instant IRS status updates, Tax990 makes it simple to file confidently. 

Flexible Form Preparation Methods

We offer two filing methods to simplify the process: form-based filing and interview-based filing. Depending on which method is more convenient, these will make filing seamless. 

• The form-based filing method closely resembles traditional paper filing. The areas to be filled out will be highlighted, and you will be provided with your required Schedules based on the answers to your previous questions. 
• The interview-based filing method allows you to answer a series of questions to lead our system to generate your 990 form. We recommend this approach for those filing a 990 form for the first time. 

Streamlined Validation and Review Process

Tax990’s internal audit system uses an advanced error-check system to audit your completed form before sending it to the IRS. Validation helps catch common errors like mismatched numbers, missing information, incorrect EINs, etc. This prevents errors or potential rejections, which can cause delays in your filing. 

Convenient Data Import Options

Even if your organization has filed elsewhere in previous years, Tax990 can copy last year’s Form 990, 990-EZ, and 990-PF. This significantly reduces the time it takes to file. Our system also offers a bulk upload feature to enter large amounts of data at once.

The Tax990 Commitment

We’re committed to helping you get your returns accepted, not just submitted. If a return is rejected, you can make corrections and retransmit at no extra cost. And if you need to file an amendment, we’ve got that covered, too. Amendments are free with Tax990.

From onboarding to transmission, we stand behind your work, so you can deliver accuracy, transparency, and peace of mind to every nonprofit you serve.

Get started today at www.tax990.com