E-filing An Exempt Organization Tax Return
So you have gone through all the necessary obstacles to obtain your tax exempt status and now you have to file your Form 990. There are multiple versions of Form 990 to match different size organizations. The Express990 team has put together a road map to understanding the 990 and information on how to e-file it.
1. Choosing The Right Form
Let’s start with the most popular – Form 990. This form is the complete return for tax exempt organizations. It has a lot of different parts and takes some time to file. Organizations with at least $200,000 in gross receipts are required to file Form 990. This form will soon be available for e-filing through Express990, which will be amazing because right now, this form can only be paper filed with the IRS.
The next popular 990 form in the series is Form 990-N (e-postcard). This form can only be e-filed and it is a much shorter (like the length of a postcard) version of the complete Form 990. The 990-N is e-filed by organizations with $50,000 or less in gross receipts. You don’t need to be an accountant to understand and e-file the Form 990-N. It is really simple to file and will save you from losing your tax exempt status when e-filed annually. E-filing Form 990-N with Express990.com is free for the current tax year.
Form 990-EZ is also one of the most used forms in the 990 series. It is filed by organizations with gross receipts of less than $200,000. The 990-EZ consists of many different schedules that are technically different sections to be filled out with specific information. This form is available to be e-filed through Express990. I wrote two blogs on the different schedules so if you want to learn more, check out:
Form 990-EZ: Schedules A, B, and C
Form 990-EZ: Schedules E,G,L,O
2. Know Your 990 Deadline
Your deadline to file whichever Form 990 from the series can be a little tricky. There isn’t one set deadline. The deadline is based on your type of tax year: fiscal or calendar. Once you know what type of tax year you follow, then you can determine your deadline date. It is going to be the 15th day of the 5th month after the last day of your tax year. For example; if your tax year ended on December 31st, then your deadline is May 15th of the following year.
3. Know Your Filing Options
As written above the complete Form 990 will be available for e-file through Express990.com very, very soon. As for Form 990-EZ and Form 990-N, you have a few options available for e-filing.
990-N E-filing App
If you aren’t always in an office, then e-filing might seem like an option that isn’t practical. Express990 released a 990-N e-filing app just for that purpose. It’s free to download and e-filing the 990-N is free for the current tax year. Check out my 990-N App blog for more information.
990-EZ E-filing
E-filing Form 990-EZ is so much easier than the traditional paper form. You don’t have to worry about using the right color ink and mistakes can be easily fixed. Express990 provides easy to follow prompts and guides you through the entire e-filing process. Check out my Tax Guide To File Form 990-EZ With The IRS blog for more information.
4. Don’t Hesitate To Call The Express990 Team
If you have any questions about e-filing your 990, contact the Express990 team via phone: 704-839-2321 or email: [email protected].
