Tag: tax-exempt organization
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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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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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Completing Your Organization’s Form 990-EZ: Parts IV, V, and VI
In our last blog, we reviewed in more detail the process of completing Part I, II, and III of the 990-EZ form. In this blog, we will look at completing Parts IV, V, and VI of the 990-EZ return. In this section of Form 990-EZ, you will be providing detailed information regarding your organization’s officers,…
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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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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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Navigating the 990 Series: Understanding Schedules and Simplifying Filings with Tax990
There are so many very specific parts to filing a 990 series return. In addition to the 990 return itself, there are also often additional schedules required to provide more specific information on a topic indicated on the 990 return itself. 16 different schedules may be associated with the 990 series return. Your organization does…