E-filing Form 990-EZ with Express990
E-filing Form 990-EZ is a brand new service being provided by Express990.com. It is a major breakthrough in the world of filing tax exempt returns. The e-filing process designed by the team at Express990 has been incredibly streamlined to save you time and headache when entering information. Let’s take a look at how everything works…
Form 990-EZ
Before we get into all the e-filing fun, I wanted to go over the basic information about Form 990-EZ. This form is used by tax-exempt organizations, nonexempt charitable trusts, and section 527 political organizations to provide the IRS with information required by section 6033.
Form 990-EZ is made up of different schedules to enter specific information. You can find out about 990-EZ schedules in my blogs: Schedules A,B, and C & Schedules E,G,L,O.
There is lot of information that needs to be entered when filing a Form 990-EZ, including:
– Gross income
– Expenses incurred within the last year
– Disbursements within the year that are the reason the organization is exempt
– Balance sheet showing assets, liabilities, and net worth
– Total of contributions and gifts received during the year and the names and addresses of all substantial contributors
– Names and addresses of the foundation’s managers and highly-compensated employees
– Compensation and other payments made during the year
– Lobbying expenditures and nontaxable amounts
– Direct or indirect transfers and relationships with other organizations of the same type
– Respective amounts of the taxes imposed on the organization or any manager of the organization
– Amounts of reimbursements paid by the organization during the taxable year for any taxes imposed
– Information on any excess benefit transaction
– Information on any disqualified persons
– Information on disaster relief activities
It’s really is a lot and e-filing makes it so much easier to enter information and know where you are in the process at all times. And just think of all the paper you are saving; going Green has never been so easy.
How it all works
I could explain the e-filing process, but a video just seems a lot more entertaining.
