How to Know if Your Organization Qualifies as Tax Exempt
An organization qualifies as tax-exempt if its primary purpose falls under the criteria set by the IRS. This includes the allocation of profits and ongoing compliance.
Breaking Down Form 990: Key Financial Statements That Define Your Nonprofit
Understanding these financial statements isn’t just about filling out Form 990—it’s about strengthening your nonprofit’s transparency, trustworthiness, and long-term success.
Today is a Major Deadline for Certain Tax-Exempt and Politicial Organizations
The IRS 990 deadline for the month of April is here, and several organizations are required to submit their 990 returns before the day ends. Whether you’re a nonprofit filing...
What is Form 1120-POL? A Comprehensive Guide for Political Organizations
Political organizations and certain tax-exempt organizations use Form 1120-POL to report their taxable income and income tax liability under Section 527 of the Internal Revenue Code.
Gear Up for the February 990 Deadline: Everything You Need to Know
Valentine’s Day may be over, but there’s one more commitment you can’t forget—Your 990 Return! February 17 is here, and for many nonprofits, the deadline to file the 990 return...
Navigating IRS Form 990 Filing for Nonprofits: A Guide
Nonprofit organizations juggle many responsibilities to ensure smooth operations and financial health. Filing IRS Form 990 is a critical part of this, as it ensures compliance with IRS regulations. When...
The IRS E-file System is Now Open for 990-T, 1120-POL, and Extension Form 8868!
As you may know, the IRS temporarily shut down the e-file system for 990-T, 1120-POL, and extension Form 8868 in January for technical maintenance. On March 18, 2024, the...
Understanding IRS Error Codes: Fixing an Incorrect Exempt Status on 990 Returns
Welcome to the next installment of our ‘Understanding IRS Error Codes’ blog! If you receive any of the following E-file Error Code F990-913-01, F990-912-01, or F990-PF-906-01: this is an indication...
Form 990-EZ Filing Instructions for Nonprofits
Form 990-EZ is a return form used by tax-exempt organizations under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code whose gross receipts are less than $200,000 and greater...