ROCK HILL, SC / ACCESSWIRE / November 6, 2024 / As we move into November, many nonprofits need to turn their attention to the upcoming major 990 filing deadline.
Meeting this deadline is crucial to staying compliant and upholding the nonprofit's profile with the IRS as well as with the public.
Tax990 is an IRS-authorized e-file provider with over a decade of experience delivering efficient services to thousands of nonprofits nationwide. Tax990's intuitive interface, streamlined features, and dedicated customer support work together to provide remarkable efficiency in aiding nonprofits to meet their tax compliance needs effectively, even on the verge of the deadline.
Who Should File by This Deadline?
All 990 forms share a common deadline, the 15th day of the 5th month following the end of the organization's fiscal year. The upcoming November 15th 990 deadline applies to organizations that meet one of the following criteria:
Nonprofits with a fiscal year ending on June 30th must file their Form 990 by November 15th.
Organizations granted a six-month extension from the original May 15th deadline by filing Form 8868 must submit their returns by November 15th.
Filing Form 990 on time is crucial for maintaining a nonprofit's good standing. Missing deadlines can result in IRS penalties ranging from $20 to $120, depending on the organization's profile. Repeated failures to file these forms for more than 3 years could lead to the loss of the nonprofit's tax-exempt status.
Types of 990 Forms
Nonprofit organizations are required to file various 990 forms depending on their structure and financial activities. Here's a breakdown of the different 990 forms an organization might need to file this deadline:
Form 990-N (e-Postcard): Applicable for small organizations with annual gross receipts of $50,000 or less.
Form 990-EZ: Designed for organizations with gross receipts under $200,000 and total assets under $500,000.
Form 990: For larger organizations with gross receipts of $200,000 or more or total assets of $500,000 or more.
Form 990-PF: Exclusively for private foundations regardless of their size.
Form 990-T: Required for organizations that have earned $1,000 or more in unrelated business income.
Tax990 offers comprehensive cloud-based software that supports all the 990 forms along with the necessary schedules and supporting forms. In addition, the IRS-authorized provider also supports many other forms that nonprofits may need to file, including CA Form 199, Form 8868 (Extension Form), Form 1120-POL, and Form 8038-CP.
All-in-One Solution for 990 Filings
Tax990 is designed to make the filing process as simple as possible, even at the deadlines. Whether they're filing at the last minute or planning ahead, Tax990 has everything their clients need to ensure accurate and timely submission.
Here are some key features of Tax990:
Flexible Filing Options: Clients can choose between direct-form entry or an interview-style approach to fill out forms.
Free 990 Schedules: Automatically includes all necessary schedules without any additional fees.
Bulk Upload: Clients can use Tax990's standard Excel templates to upload data and streamline the filings easily.
Copy Return: Clients can seamlessly copy and transfer certain data from their prior year's returns filed with Tax990 to their current return.
Internal Audit Checks: Built-in checks ensure forms are accurate and comply with IRS regulations before submission.
Amendment and Prior Year Support: Tax990 allows clients to file past returns (for the 2022 and 2021 tax years) or make amendments to previously submitted forms with ease.
Instant IRS Notifications: Provides real-time updates on the return status via email and text.
Live Customer Support: Get 24/7 expert assistance for every step of the filing from our dedicated support team via email, phone, or live chat.
Exclusive Features for Tax Professionals
Team Management: Tax professionals can add their team members, assign tasks, and monitor their progress efficiently.
Client Management: Tax professionals can file for multiple clients and share the complete forms with the respective clients via a secure portal to obtain their approval before submission.
E-signing Options: Tax professionals can easily obtain e-signatures on Form 8453-TE and 8879-TE from their clients, enhancing convenience and compliance.
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 well.
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, ACAwise, ExpressExtension, 123PayStubs, and TruckLogics.
For all media inquiries, please contact Stephanie Glanville, Content Writer, at [email protected].
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SOURCE: Tax990