Category: Form 990
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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…
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501(c)(3) Organizations & 990 Filing: A Guide to Exemption/Filing Requirements
An organization having tax-exempt status means that the net profits of the organization are exempt from federal taxes. While certain states allow state-level exemption, this status is primarily granted by the IRS. If your organization is new, you may not have obtained tax-exempt status yet and will need to do so. This blog will give…
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So You Got an Error Code: Why and What to Do! A Tax990 Guide
Getting an error is–let’s face it–annoying. This is especially true when the codes are long strings of numbers that don’t seem to clearly indicate what the actual problem is. As with everything, however, knowing is half the battle–and with Tax990’s handy guide on your side, you’ll have all the info you need to combat any…
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How-To: A Tax990 Guide to Form 990-T’s Schedule A
Form 990-T is filed by tax-exempt organizations to report their Unrelated Business Taxable Income (UBTI)–$1000 or more–to the IRS. Organizations that file Form 990-T should include Schedule A with their main form. This article is an overview of what tax-exempt organizations need to know about filing Form 990-T’s Schedule A and if it applies to…
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Form 990: What You Need to Know About Filing for Your Nonprofit
**Editor’s Note**: This article originally appeared on Blackbaud’s “Engage” blog at https://blog.blackbaud.com/form-990-what-you-need-to-know-about-filing-for-your-nonprofit/. It is being republished with permission. It may feel like very few things involving the IRS are straightforward. But when it comes to nonprofit tax exemption, staying compliant with IRS regulation can be–all because of the Form 990 Series. The Form 990 Series…
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I Received Error Code F990PF-905-01. What Should I Do? A Tax990 Guide!
Error Code F990PF-905-01 indicates the organization has not been established as a private foundation with the IRS (only private foundations can file Form 990-PF). Received this code? Read on for more information about what it is, why you received it, and what you should do about it. What is Error Code F990-905-01? As mentioned above,…