ROCK HILL, SC / ACCESSWIRE / August 22, 2024 / Nonprofit organizations serve society in diverse ways. To further their missions, they benefit from advantages like federal tax exemption. However, they must also fulfill legal obligations, including filing Form 990 to report their annual financials and activities- a task that can be challenging amid their primary responsibilities.
Tax990, an IRS-authorized e-file provider, offers a streamlined solution with robust features to simplify the 990 filing process for nonprofits.
How Tax990 Simplifies Form 990 Filings
Tax990 is a cloud-based e-file provider that incorporates a user-friendly interface tailored with numerous time-saving features, serving the filing needs of organizations of all sizes.
Here are some of the notable features of Tax990:
Flexible Filing Options
Tax990 offers two filing methods, these flexible options ensure that Tax990 can accommodate various preferences and levels of expertise, simplifying the 990 filing process for all clients.
Interview-Style Filing Method: Clients can answer a series of questions about their organization and financial details. Based on their answers, Tax990 generates the form for them, making the filing process easier and effortless.
Form-Based Filing Method: For those familiar with traditional paper forms, Tax990 allows clients to manually input information directly onto digital forms, providing a reliable filing method for experienced filers.
Automatic Inclusion of Schedules
After completing the form, Tax990 automatically includes the relevant schedules based on the information provided on the primary form at no additional cost, saving their clients time and money.
Internal Audit Check
Tax990 includes an internal audit check aligned with IRS instructions, thoroughly reviewing forms for errors. If any issues are detected, it provides instant notifications and instructions, ensuring accuracy before submission to the IRS.
Free Transmission of Rejected Returns
Tax990 allows clients to fix errors in rejected returns and retransmit them to the IRS without any extra charges.
Tax990's Tailored Features for Tax Professionals
Tax990 also incorporates features tailored specifically to look after the filing requirements of a tax professional. These features include,
Team Management
Tax professionals can invite their team members to assist with the filing process. This feature allows them to add team members, assign tasks to them, and monitor their progress all in one place.
Client Management
This feature is especially beneficial for tax professionals managing multiple clients. It allows them to obtain client approvals and e-signs before submitting forms to the IRS, streamlining the process and ensuring efficient client management.
Nonprofit Tax Forms Supported By Tax990
Tax990 supports all necessary forms required for nonprofit organizations for the current tax year as well as the previous two years,
990 Series of Forms:
Tax990 supports all the variants of the 990 forms, including,
Form 990-N - Designed specifically devised for nonprofit organizations with gross receipts under $50,000.
Form 990-EZ - Intended for organizations with gross receipts under $200,000 and total assets under $500,000.
Form 990 - Designed for organizations with annual gross receipts equal to or greater than $200,000 or total assets equal to or greater than $500,000.
Form 990-PF - Designed specifically for private foundations, regardless of gross receipts or assets.
Form 990-T - Required to submit if the organization earns income of $1000 or more from any unrelated businesses (UBI).
Other Supported Forms:
Tax990 supports other forms that might be required for a nonprofit other than 990 forms.
Form 8868 - Used to request a 6-month automatic extension for filing Form 990 and other nonprofit tax returns.
CA Form 199 - Mandatory for nonprofits operating in California to ensure compliance with state regulations.
Form 1120-POL - Essential for political organizations to fulfill their tax filing obligations.
Form 8038-CP - Utilized by issuers of tax-exempt bonds to request a credit for the interest payments they make.
Tax-exempt organizations and tax professionals can begin their 990 e-filing journeys now by signing up for a free account at www.Tax990.com
About Tax990
Tax 990 is the premier, IRS-authorized e-file provider of nonprofit tax forms. Tax990 provides solutions for nonprofits that are required to file Form 990-N, 990-EZ, 990, 990-PF, 990-T, California Form CA-199, 8868, 1120-POL and 8038-CP with the IRS. With advanced features and affordable pricing, the goal of Tax990 is to help nonprofits file easily, so they can continue to keep doing good.
About SPAN Enterprises
Based in Rock Hill, South Carolina, SPAN Enterprises has been developing industry-leading software solutions for IRS e-filing and business management tools for over a decade.
The SPAN Enterprises portfolio of products includes TaxBandits, Tax990, Tax Exempt Bonds ACAwise, ExpressExtension, 123PayStubs, and TruckLogics.
For all media inquiries, please contact Stephanie Glanville, Content Writer, at [email protected].
SOURCE: Tax990