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ExpressTaxExempt Blog

Tuesday, December 26, 2017

Nonprofit Leadership Development Tips For 2018


"Back to life, back to reality!” -- I always find myself humming the tune to these lyrics the day after a national holiday. Hopefully you had an enjoyable Christmas with family, friends, and loved ones. 

While the yuletide joy is yet lingering, many leaders are preparing themselves and their organization for an exciting year of service to their community. Some organizations may even have newly elected leaders lined up and ready to take the group to the next level.

Good leaders strive to leave their organization in good standing and provide future leaders with ample information to ensure a smooth transition. While some organizations in this predicament may have a transition method in place to train new leaders, there are others that may need or want to implement some useful strategies to ensure the core leadership of their group remains solid. 

Strengthening the development of your organization’s leadership will result in a greater impact of the organization’s mission, increase overall revenue, and provide concrete stability which nonprofits need. 

ExpressTaxExempt understands that your purpose and mission is to help others, so we’ve provided some leadership development tips that you can utilize in the new year and years to come. 

Leadership Development

BE ORGANIZED

Prior to beginning the new fiscal year for the organization, try your best to make sure things are organized so that leaders can focus on their duties without having to go against any unnecessary roadblocks. 

SET GOALS & OBJECTIVES FOR THE YEAR

It is important to have realistic goals and objectives in place at the beginning of the year. Your organization will never reach its full potential without a vision being in place. 

LEADERSHIP TRANSITION MEETING

This type of meeting involves immediately past and newly elected leaders of the organization. During this meeting, past leaders will give one-on-one training and insight to the new leader that will be taking on their [former] role. 

Having a Leadership Transition Binder is a great tool and gift to incoming leaders. This binder provides new leaders with all of the documents they will need to be successful in their new role. 

Information such as general “must-haves” like the organization’s bylaws, calendar of events, etc. as well as specific documents would be helpful. 

INFORM NEW LEADERS OF KEY EXTERNAL RELATIONSHIPS

Leadership roles that require working relationships or contacts with other leaders outside of the organization should be provided on a Contact Sheet. 

The contact sheet should be provided with contact information including the person’s name, title, email address, and phone number for each individual. 

WORK HARD, PLAY HARD

To be successful in the nonprofit sector, you must be determined, hardworking, and passionate about what you do and those you serve. Although you must work hard to be effective, it is just as important for you and your team to “let your hair down” and enjoy each other’s company. Working too hard, and eventually becoming “burned out,” will affect everything you do in a negative way at some point. 

The ExpressTaxExempt team avoids this issue by doing fun team activities every Friday afternoon. For the last hour of the workday, our team splits into two groups and compete against each other in a variety of action-packed games. From charades to volleyball, these enjoyable moments together not only inspires further teamwork, but also brightens the morale of the workplace and eliminates monotony in the office. 

We’re Always Here to Help

As you’ve probably noticed, we end almost all of our blogs with the reminder that we are here to help you...because we really mean it! The ExpressTaxExempt team is always just a phone call, email, or chat away if you ever have any questions or need assistance during any part of the e-filing process. 

Feel free to contact our support team of e-file experts at 704.839.2321, Monday through Friday from 9 a.m. to 6 p.m. EST. You can also reach us 24/7 via email with support@ExpressTaxExempt.com.

We hope that these useful tools and tips will be beneficial to the leadership of your organization. Don’t forget to maintain your tax-exempt status annually by filing with ExpressTaxExempt. Best wishes to your team as you prepare for the new year!
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Monday, December 25, 2017

ExpressTaxExempt Wishes You A Merry Christmas!!


This holiday season, the ExpressTaxExempt team wishes to express our sincere gratitude and appreciation to you for entrusting us with your tax filing needs. Wishing you a year full of happiness, joy, and success!


Our office will be closed on Monday, December 25 for Christmas and will re-open on Tuesday, December 26. Limited email support will still be available.

Merry Christmas!

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Friday, December 15, 2017

Last Filing Deadline of 2017 is Here!

Attention! Attention! The final Form 990 filing deadline is official here. Nonprofit groups and charity organizations who operate on a fiscal tax year ending in July must file their appropriate 990 Form by midnight tonight in order to stay in compliance with the IRS and avoid expensive penalties during the holiday season. 

Luckily, ExpressTaxExempt supports all 990 Forms and even provides the option for users to file an extension to receive more time to file. 

Filing with ExpressTaxExempt is the most hassle-free way to instantly file your Form 990 and transmit it directly to the IRS. Plus, it gets even better than that!

ExpressTaxExempt & GuideStar Collaboration

ExpressTaxExempt and GuideStar have recently joined forces to enable nonprofits to send their tax returns seamlessly to GuideStar as part of the e-filing process. This partnership will reduce the amount of time it takes GuideStar to obtain this information and make it available to the public, furthering the professional impression a nonprofit makes in terms of trust and transparency.

How To E-file Form 990

Before you start the e-filing process, it’s best to know exactly which form from the 990 series you need to file. There are a few forms to choose from: 

Form 990: The form filed by organizations with gross receipts that are equal to or more than $200k or with total assets equal to or more than $500k. 

Form 990-EZ: This is the Short Form Return of Organization Exempt From Income Tax. It’s used by organizations with that have less than $200k in gross receipts or less than $500k in total assets. 

Form 990-N: This is the e-postcard for Electronic Notice of Tax Exempt Organizations that aren’t required to file Form 990 or Form 990-EZ. Organizations with gross receipts that are normally less than or equal to $50k are required to electronically file this form. It can’t be paper filed. 

Form 990-PF: This is the Return of Private Foundation and it’s filed by private organizations in the United States. You must include a fiscal list of information and a total list of your grants to complete this form. 

Get Extra Time to File

With Christmas being just a week and some days away, we understand how hectic things may be right now. If you need more time to file, you can quickly e-file extension Form 8868 and receive an automatic 30-day extension. 

We're Always Here To Help

Our U.S.-based customer support team is standing by ready to assist you with any questions that you may have about e-filing Form 990, 990-EZ, 990-N or Form 8868. Feel free to contact one of our experts at 704.839.2321. We’re available Monday through Friday from 9 a.m. to 6 p.m. EST. You can also reach us 24/7 via email with support@ExpressTaxExempt.com.
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Wednesday, December 13, 2017

Form 990 December Deadline is Approaching Quickly

Business Owner Filing Taxes at Christmas

Snowflakes are falling, Christmas gift shopping is at an all time high, and holiday parties make the weekends even more enjoyable. It really is beginning to look a lot like Christmas! 

While you’re embracing the many facets of the Holidays, don’t forget about the upcoming Form 990 Series filing deadline on this Friday, December 15. We’d hate for your Christmas to be ruined by costly penalties from the IRS. 

Tax exempt organizations that operate on a fiscal tax year of August 1 to July 31 are required to file one of the following tax returns of the Form 990 Series by December 15th: 

Form 990 - filed by organizations with gross receipts more than or equal to $200,000 or total assets equal to or greater than $500,000.

Form 990-EZ - the Short Form Return of Organization Exempt From Income Tax and is filed by organizations with gross receipts less than $200,000 and $500,000 in total assets.

Form 990-N - for organizations with gross receipts that are less than or equal to $50,000. This form can only be filed electronically.

Form 990-PF - filed by Exempt & Taxable Private Foundations as well as Non-Exempt Charitable Trusts which the IRS treat as private foundations.

For more information on what details you will need in order to e-file, click here.

Filing Form 990

Handling tax filings, whether personal or business, can be intimidating and stressful; but not with ExpressTaxExempt. ExpressTaxExempt eliminates the worry about missing your Form 990 filing deadline! With our simple, interview style e-filing process, you can complete your form and instantly transmit it directly to the IRS.

We offer easy e-filing for Form 990 Series returns (Form 990, Form 990-N (e-Postcard), Form 990-EZ, and Form 990-PF) so you can quickly file the correct 990 Form for your organization.

Simply follow the quick step-by-step guide to create your free account, enter basic information about your organization, complete the form interview, review your information and audit report, pay for your form, and transmit it directly to the IRS. The entire process is completed in 5 simple steps!

Let Us Help You File

If you have any questions, feel free to contact our support team of e-file experts at 704.839.2321 for any questions or help with your e-filing experience. We’re available Monday through Friday from 9 a.m. to 6 p.m. EST, and even offer extended customer support hours tonight for the November 15 deadline. You can also reach us 24/7 via email with support@ExpressTaxExempt.com
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Tuesday, December 12, 2017

New Product Perfect for Exempt Organizations Officially Launches


There’s a new product on the block that your organization can benefit from greatly!

Today our parent company SPAN Enterprises officially launched its latest product, TaxBandits
TaxBandits is the ultimate e-filing solution for small businesses and nonprofit organizations. Offering the most simplified and streamlined, interview-style e-filing process, TaxBandits helps to keep you moving in the right direction. 

Helping you and your organization achieve greatness, TaxBandits provides necessary IRS forms at your fingertips. 
The following tax forms can be filed on one website to accommodate the needs of all of our clients:

Form 990 Series: Form 990-N, Form 990-EZ, Form 990, Form 990-PF, Form 1120-POL, and Form 8868.

Form 94x Series: Form 941, Form 941-PR, Form 941-SS, and Form 941 Schedule

Form 1099 Series: Form 1099-MISC, Form 1099-INT, Form 1099-DIV, Form 1099-R, Form 1099-S, Form 1099-B, Form 8809, and Form 1099-Correction

W-2 Forms: Form W-2 and Form W-2c

ACA Forms: Form 1095-B, 1095-C, 1094-B, and 1094-C

Extensions: Form 8809 and Form 8868

Exempt Organizations & TaxBandits

Tax exempt organizations will benefit greatly from the convenience of TaxBandits. Whether you have to handle annual Form 990 filing for your organization or need to submit Form 1099 or Form W-2 information for its employees, the comprehensive TaxBandits software covers it all! 

The TaxBandits Experience

TaxBandits believes that while taxes can be complicated, solid research paired with great customer service, along with accurate and efficient software, your tax filing experience will be much easier.

Our U.S.-based customer support team assures that we will answer your call faster than the IRS. TaxBandits constantly strives to lead its clients as a compassionate resource, guiding you through complicated tax matters and making the e-filing experience as accurate and efficient as possible.

Upcoming Webinar

Join TaxBandits TODAY at 2:00 p.m. EST to hear about how to stay compliant with the IRS and how to report for the vendors that help you with your business! Register Now!

TaxBandits For You! Quick & Easy Online Tax Preparation

Contact Us

Feel free to contact us with any questions that you may have. Phone support is available Monday through Friday, 9:00 a.m. to 6:00 p.m. EST at (704) 684-4751. Reach us 24/7 via email support at support@TaxBandits.com or by Live Chat and we will give a speedy response.
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Tuesday, December 5, 2017

How To Organize Receipts & Records for Tax Filing

With technology gaining new developments, keeping track of receipts and financial transactions for your exempt organization may have become a little easier. Often times you may be given the option to receive your receipt via email or by text message. Although this is convenient, it can become somewhat difficult to keep up with the mixture of printed and digital receipts on top of all of the other paperwork you need when preparing taxes for your organization.

Here’s a few tips on how to get all of your paperwork and that ever-growing box of receipts organized.

Take Inventory

The first step in organizing your paperwork is to assess the types of documents and receipts that you have. Paperwork can be categorized in various ways, including tax filings for previous years; bank or loan accounts or mortgage statements; pay stubs; assets sales receipts of gains/losses (residential property, vehicles, etc.); deduction/expense receipts; insurance; and interest paid/interest deductions (i.e. loan interest).

How Long Should I Keep Receipts?

Don’t you find yourself asking this question a lot? Right before you’re about throw away a receipt you think to yourself, “Hmm...should I keep this just in case?”

The length of time that you keep financial records is based on why you originally needed them. For example, annual tax returns, insurance claims, investments, etc., should be kept beyond tax season. Remember, the ultimate purpose of keeping your records is to have documentation for the IRS.

Audits of tax filings have a statute of limitations that can be extended three years after you’ve filed (or the due date of the tax return), so it is extremely important and beneficial to keep these records for at least three years.

If you do not file with the IRS or they have no reason to believe that a case of fraudulence has occurred, there is no statute of limitation. Because of this, you can keep any relevant tax documentation as long as possible.

NOTES:
  • Self-Employed individuals and tax exempt organizations are more likely to be scrutinized and given longer statutes of limitations. If you are self-employed or file for an exempt organization (with employees), keep your filing records for four years.

Organize Your Records

Organization is the key to success here. It’s suggested that you sort financial records and receipts based on how soon you may need them.



Keep up with Active File documents! These include documents that you will actively need in the coming year (i.e. W-2s, expense receipts, etc.). Having these documents in multiple formats, whether it’s printed, scanned, or electronic, is always helpful.

Once you have filed or the tax year has ended, you can safely discard the following documents:
  1. Pay stubs 
  2. Bank Statements 
  3. Receipts (once your taxes have been filed, paper receipts should be shredded)
  4. Loan Interest Payments
  5. Investment Statements 

Financial records that you do not need in the present moment, but may need to be accessible in an audit, should be kept in a digital format and not in a physical space. Scanned documentation can be stored on your computer or uploaded into a cloud service.

The Easiest Way to File 

Once you’ve organized all of your paperwork, utilize ExpressTaxExempt for your e-filing needs. ExpressTaxExempt eliminates the worry about missing your Form 990 filing deadline! With our simple, interview style e-filing process, you can complete your form and instantly transmit it directly to the IRS.

We offer easy e-filing for Form 990 Series returns (Form 990, Form 990-N (e-Postcard), Form 990-EZ, and Form 990-PF) so you can quickly file the correct 990 Form for your organization. For more information on e-filing pricing, click here.

Follow the simple step-by-step guide to create your free account, enter basic information about your organization, complete the form interview, review your information and audit report, pay for your form, and transmit it directly to the IRS. The entire process is completed in 5 simple steps!

If you have any questions, feel free to contact our support team of e-file experts at 704.839.2321 for any questions or help with your e-filing experience. We’re available Monday through Friday from 9 a.m. to 6 p.m. EST. You can also reach us 24/7 via email with support@ExpressTaxExempt.com.
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Need Further Help? Contact Us

Our live support specialists in Rock Hill, SC are always ready to offer professional service and assistance.

704.839.2321

Frequently Asked Questions

Find answers related to e-filing IRS Form 990, 990-EZ, 990-PF, 990-N (e-Postcard), Form 1120-POL and Extension Form 8868 with our Frequently Asked Questions.

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