Tag: nonprofit oprganization
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The March 15th Deadline for 990 Series Forms is Here: Simplify Your Filing with Tax990
Tax season brings its own set of challenges, especially for nonprofit organizations tasked with filing their annual 990 Series returns. But fear not, because Tax990 is here to revolutionize the process, making compliance with the IRS easier and more efficient than ever before. Which Organizations have a 990 Deadline this Month? Following are the organizations…
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Understanding the 990-T Form: Navigating Unrelated Business Income Reporting
The Form 990-T plays a crucial role in the financial reporting landscape, providing organizations with a means to calculate and disclose their unrelated business income to the IRS. In essence, it’s the document that separates income generated from activities unrelated to the organization’s primary mission. Here’s a comprehensive guide to unravel the nuances of the…
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Navigating the February 990 Deadline with Tax990: Simplified Nonprofit Tax Filing
February is here and love is in the air, but so is the upcoming 990 deadline! Nonprofit organizations are required to file their annual 990 return with the IRS to maintain their tax-exempt status and remain in good standing with the IRS, and, ultimately the public. In this blog, we will cover which organizations are…
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Year-end Tax-Filing Deadlines on January 31st that May Impact Your Nonprofit
If you work with a tax-exempt organization, you are likely familiar with filing 990 Returns to report the annual activities and finances. However, as January 31st creeps closer and closer, there may be some additional filing requirements that your organization is required to meet. January 31, 2024, marks a significant IRS/SSA filing deadline for businesses.…
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Nonprofits with a January 16th 990 Deadline Must File by Midnight
It is surprising to discover that nonprofit entities face stringent filing obligations with the IRS, despite their exemption from federal income taxes. Every nonprofit organization falling under Section 501(c)(3) of the IRS tax code, which grants tax-exempt status, is mandated to submit an annual 990 series return to the IRS. What prompts such meticulous reporting…
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Understanding IRS Error Codes: Not Being Recognized in the IRS Database
Completing returns in the IRS 990 series is no walk in the park. Completing this form and properly reporting all of the required financial information for your nonprofit organization can be a time-consuming process. Errors can happen- but what should you do when they do? Error codes from the IRS can be tricky, but this…
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Tax990 is Now Accepting IRS 990 Series Returns and CA199 for the 2023 Tax Year!
It‘s a new year, and with it comes the annual responsibility for all 501(c)(3) nonprofit organizations to file their 990 tax returns for the 2023 tax year in the upcoming months. There’s no need to worry, however, Tax990 has your 990 e-filing covered. Understanding Your 990 Filing Requirements for the 2023 Tax Year: Determining which…
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Changing Your Non-Profit Organization’s Accounting Period: A Complete Guide
When an organization receives tax-exempt status, the IRS determination letter indicates the tax year-end date. This date is the last day of the operating tax year for the organization. An organization’s tax year is a 12-month time frame in which the organization operates and reports financial information. An organization can have either a calendar tax…
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Completing the Correct 990 Return for Your Nonprofit Organization: Tax Filing Basics
Filing your organization’s tax return can be a once-a-year task that’s easy to overlook. To help you navigate the complexities of the 990 series returns, we’ve put together a guide outlining the filing requirements and the different forms available. Understanding the Basics The form you choose depends on your organization’s financial activity, which may vary…
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Understanding IRS Error Codes: Filing an Extension Before the Tax Period Ends
If you receive the following E-file Error Code R0000-035-01: indicating you can not file an application for extension before the tax period ending date, what does that mean? How should you proceed? Keep reading to find out! Are you looking for more information on IRS 990 error codes? Check out our previous blogs in this…