Author: admin
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A Deep Dive into Completing IRS Form 990: A Closer Look at Parts 7-9
The IRS Form 990 can be a complex and intimidating tax return. Whether you have recently taken on this responsibility of filing for an organization that you volunteer with or work for, or if you’re a seasoned filing expert, it is crucial to file accurately. Failing to do so can have major consequences for the…
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Breaking Down Nonprofit Tax Form 990: Navigating Parts 4-6
Form 990: it’s a document that strikes fear into the hearts of many nonprofit organizations, but it doesn’t have to be that way. We’re taking apart each scary portion of this form and shining a light on it! Welcome to the next installment of our blog where we will be breaking down Form 990 part…
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Understanding California Nonprofit Requirements – A Quick Guide
Creating and operating a nonprofit organization is a challenging feat. So much work goes into establishing and maintaining the organization’s good standing with the IRS and in many cases, their state. This blog will focus on the specific reporting requirements for the State of California. In addition to completing and filing their 990 Series Return…
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Filing a 990: How it Can Benefit Your Church (and Your Church’s Donation Box)
Each and every year, thousands of nonprofit organizations file a Form 990–and while IRS regulations mean that all churches (that meet the requirements of 501(c)(3) status) are not required to file a 990, there are a number of reasons that you may consider doing so. The biggest reason, though? It can lead to an increase…
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Form 990 Filing for Schools and Educational Organizations: Important Information and Deadlines
Do Schools and Educational Organizations Need to File a 990? Yes! Even after obtaining tax-exempt status, your School/Educational Organization still must report their financial status, activities, and certain other information to the IRS every year. Depending on their gross receipts, assets, and information reported on the form, there may be additional requirements as well. While…
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Form 990 (Part I-3): A 5-Minute Crash Course for Nonprofits
As a nonprofit organization, you are 100% dedicated to your mission and bettering your community. As the leader of the organization, you probably have many unofficial titles and endless responsibilities. At Tax990, we understand that “tax preparer” is an unofficial title that can be beyond daunting. There is a common misconception that because nonprofit organizations…
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Form 990 Filling For Animal Rescue Organizations: A Tax990 Guide
While Animal Rescue Organizations are tax-exempt, there’s still certain information regarding their financial activities that must be reported to the IRS annually. This is done by filling out a Series 990 Form. This article details how animal rescue organizations are defined by the IRS, how they can apply for tax-exempt status, and important annual filing…
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What is Form 990’s Schedule B? How Do I File? A Tax990 Guide!
Organizations filing Form 990, 990-EZ, or 990-PF may also be required to attach Form 990 Schedule B to their forms, depending on the information they reported (in accordance with IRS regulations). Looking for more info on what exactly Schedule B is, and how to go about completing it? Read on for more information! First Things…
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The September 15th Deadline is Here – Who Needs to File by Tomorrow?
Attention all tax-exempt nonprofit organizations with fiscal years ending April 30th – your Form 990 deadline is tomorrow, September 15th! If you need to file your 990 return, don’t worry–Tax990 is here to help your organization file on time, avoid penalties, and remain compliant with the IRS. Need a refresher on what’s needed to file,…
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Let Tax990 Show You How to Complete Form 990-PF’s Balance Sheet!
First Things First – What is Form 990-PF and Who Needs to File it? Form 990-PF is used by private foundations to report their revenue, expenses, direct charitable activities, capital gains, losses, officer details, distributable amount, qualifying distributions, and income-producing activities annually to the IRS. Additionally, it helps private foundations calculate taxes based on investment…