How-To File for a Short Tax Year through Interview-Based 990 Series Return
When an organization has only existed for part of a tax year or has changed its accounting period it may choose to file for a short tax year to report income and expenses for the partial accounting period. A short tax year can apply to organizations filing on a calendar year or a fiscal year, depending on when the organization chooses to have its accounting period begin.
With ExpressTaxExempt, you can e-file your 990 return if your organization has a short tax year, an exempt application is pending, or the organization’s name has changed.
Here’s how to complete an interview-based 990 Return for a Short Tax Year and file for your first or final tax year with ExpressTaxExempt:
1. If this is your organization’s first year in existence it may be that this is your first time filing a 990 return. Click here to sign up for an account with ExpressTaxExempt.
2. Once you have access to your account, select the tax year you intend to file for (located in the upper left-hand corner of your dashboard). ExpressTaxExempt supports forms for the current tax year and two prior tax years.
Either choose to start your return by clicking “Start New Return” in the upper right-hand corner of your dashboard or select the correct form for your organization and click “Start Now.”
3. When you begin an interview-based 990 series return, you will be prompted to select a tax year based on your organization’s accounting period.
If your organization uses a Calendar Tax Year ending on December 31, you will be asked if you are filing for a short tax period.
4. Select that you are filing for a short tax period, then enter the beginning month and day and end month and day of your tax year:
5. If you are filing for a Fiscal Tax Year, select the end month of your tax year.
6. Under the space where you have selected your tax year, there is a checklist. Here, you are able to select whether this is the first time the organization is filing a 990 return or if the organization has been terminated or gone out of business.
If this is your first time filing a 990 return for your organization you’ve come to the right place! Your nonprofit organization can prepare a 990 return using ExpressTaxExempt’s form-based or interview-style filing process.
ExpressTaxExempt is a market-leading e-filing provider, for more information or to file your 990 return today, click here.