This month, tax-exempt organizations are facing one of the nonprofit sector’s biggest deadlines. 990 series forms for the 2020 tax year are due May 17, 2021. For many California nonprofits, May 17th is also the Form 199 deadline.
For California nonprofits, there are two forms on the checklist for May 17, 2021. If your organization operates on a calendar tax year, be sure to file Form 990 and Form 199 before this due date.
For both Form 990 and Form 199, the due date falls on the 15th day of the 5th month following the end of an organization’s tax year. For calendar year filers, that due date is May 17, 2021.
What is Form 990?
Form 990 is the federal filing requirement for tax-exempt organizations. To meet their 990 series filing requirements, tax-exempt organizations either file Form 990, 990-PF, 990-EZ, or 990-N. The correct form for your organization depends on your organization’s size, function, and gross receipts. If you’re not sure which form to file, click here and we’ll check for you.
Nonprofits use 990 series forms to report total assets, financial and charitable activities, governing officers, grants and awards, and other important information to the IRS. The IRS also releases this information to the public.
Form 990 promotes transparency in the nonprofit sector by giving the IRS and public a clear picture of an organization’s financial information and outlines their mission, programs, and services. It makes it easy for prospective donors to tell how a nonprofit uses their donations.
What is Form 199?
Form 199 is a state filing requirement for California nonprofits. Tax-exempt organizations in California file Form 199 to their basic organization information such as expenses, disbursements, filing fees, and more.
How to Meet Requirements for CA Nonprofits
E-filing is the best way to meet federal and state requirements for California nonprofits. In step with the 2019 Taxpayers First Act, electronic filing is actually an IRS requirement for meeting the May 17, 2021 Form 990 deadline.
E-file Form 990 and Form 199 with ExpressTaxExempt
ExpressTaxExempt is an IRS-authorized e-file provider supporting Form 990 and Form 199 for the 2020 tax year. To meet their requirements, California nonprofits should first complete Form 990. Users simply enter their information, resolve any mistakes, and transmit their return directly to the IRS.
Once their 990 series form is filed with ExpressTaxExempt and accepted by the IRS, nonprofits can begin filing Form 199. ExpressTaxExempt generates any necessary schedules along with Form 199 for free. You will get access to great, U.S. based support and instant notifications on your return’s status.
CA nonprofits, be sure to complete Form 990 and Form 199 before the May 17, 2021 deadline!