Add ExpressTaxExempt to your To-Do List: There Are Only a Few Days Left to File your 990 Series Return

What are you doing this weekend? If your organization operates on a calendar tax year or filed extension Form 8868 back in November you should consider adding e-filing your organization’s Form 990 series return to your to-do list!

It’s not too late to file your Form 990 Series Return! Your organization still has 4 days left to meet your Form 990 May 16 deadline. In preparation for the deadline, ExpressTaxExempt has compiled this quick review on the due date, IRS’s e-filing mandate for the 2021 tax year and the 990 series forms your organization may be required to file. 

May 16, 2022 Form 990 Deadline

Nonprofit and tax-exempt organizations are required to file 990 series returns each year to provide the IRS and the public with a record of their financial status and activities. This transparency is important to the function and continual operation of nonprofit and tax-exempt organizations. An organization’s Form 990 deadline is determined by the 15th day of the 5th month following the end of the organization’s accounting period. 

This means that organizations operating on a calendar tax year or who filed extension Form 8868 in November should file their Form 990 by May 16, 2022, for the 2021 tax year. In order to remain IRS compliant and avoid potential fees or charges, your organization should file its 990 series return on or before the May deadline. 

The IRS Form 990 E-filing Mandate

Though your organization may have been able to paper file your organization’s Form 990 series return, the IRS now requires that all Form 990 series are electronically filed as of the 2019 Taxpayer’s First Act. 

Working with an IRS-authorized e-file provider is a great way to meet your deadlines safely and easily. ExpressTaxExempt offers form-based and interview-style filing to simplify completing 990 series forms for the 2021 tax year. 

ExpressTaxExempt has a number of features that can streamline your e-filing process for both organizations and tax professionals. Click here to learn more about the exclusive features ExpressTaxExempt offers to enhance your organization’s 990 e-filing process. 

ExpressTaxExempt Supported Forms

ExpressTaxExempt supports e-filing for Forms 990-EZ, 990, 990-N, 990-PF, 990-T, 1120-POL, and extension Form 8868. The form your organization should file is based on IRS requirements and is dependent on organization size, function, and gross receipts. 

ExpressTaxExempt is a great place to review which forms your organization may need to file for the May 16, 2022 deadline. 

Form 990-EZ: Smaller nonprofits and tax-exempt organizations with gross receipts less than $200,000 and total assets less than $500,000 can meet their deadline by e-filing Form 990-EZ. 

Form 990: If your organization has gross receipts of $200,000 or more and total assets of $500,000 or more meet your May 16 deadline by e-filing Form 990. This form is the longest of the 990 series forms and will provide the IRS a complete picture of your organization’s finances, governing officers, and activities. 

Form 990-N: If your nonprofit organization has gross receipts of $50,000 or less you have the option to file Form 990-N. This form is known as an e-postcard and can be completed by filling out 8 simple questions about your organization. 

Form 990-PF: Private foundations typically need to meet their May deadline by e-filing Form 990-PF. This allows organizations to report charitable distributions, and activities, and calculate taxes based on investment income. 

Form 990-T: If your organization needs to report unrelated business income and tax liabilities, you can meet your May 16, 2022 deadline by e-filing Form 990-T. 

Need More Time?

If you find that your organization does not have time to file its Form 990 return by the May 16 deadline there are other options. IRS Form 8868 is an extension request form that gives nonprofit organizations up to 6 extra months to meet their deadline. This is an automatic extension form meaning nonprofits do not have to provide an explanation as to why they need more time. 

Please note that an organization can only use Form 8868 once per tax year and this form does not cover Form 990-N. Form 8868 is available for Form 990, 990-PF, and 990-EZ. 

Organizations that require a deadline extension will need to file Form 8868 on or before the May 16, 2022 deadline to extend their deadline. Click here to learn more about this IRS extension form. 

ExpressTaxExempt:

Are you looking for a secure way to keep your organization IRS compliant? If so, it’s time to file with an IRS-authorized e-file provider like ExpressTaxExempt!

Our live support team is here to help your organization achieve a smooth deadline. File Form 990 series return for your organization by May 16, 2022.