How To Prepare For The IRS Form 990 May 15 Deadline

Tuesday, May 15th is the deadline for tax-exempt organizations operating on a typical calendar tax year to file Form 990. The key to stress-free filing is learning how to prepare for the IRS Form 990 deadline.

What is Form 990?

IRS Form 990 is the annual financial and informational return filed by all tax-exempt nonprofit and charitable organizations. Before we get into the information you are required to file let’s review the 990 Form Series. Your organization’s type and financial situation will decide which nonprofit tax return Form 990 you will file.

There are four types of 990 Forms in the Form 990 Series. Select and e-file the appropriate nonprofit tax return Form 990 based on the following requirements:

Form 990-N (e-Postcard) – For organizations reporting gross receipts less than $50,000

Form 990-EZ (Short Form) – For organizations reporting gross receipts less than $200,000 and total assets less than $500,000

Form 990 (Long Form) – For organizations reporting gross receipts equal to or greater than $200,000 and total assets equal to or greater than $500,000

Form 990-PF – For organizations identifying as an exempt private foundation, taxable private foundation, or a nonexempt charitable trust treated as a private foundation. 

How To Prepare For The IRS Form 990 May 15 Deadline

Gather & Organize Necessary Documents

Before filing your organization’s 990 Form, take the time to gather all your required information. If you are not organized, you will find yourself wasting countless hours searching for financial information; which is never fun.

Depending on the Form 990 you are required to file, you may have to report various details such as revenue and expense amounts, program services, a list of employees, financial statements, governance and more.

Know What Information You Need

Well since we’re on the topic of required information let’s go ahead to get to it. Here’s what you will need when you file your 990 Form with ExpressTaxExempt:

Information Needed To File Form 990-N
  • Employer Identification Number 
  • Legal Name
  • Fiscal year period
  • Principal Officer
  • Current Address
  • Gross Receipts under $50,000

Information Needed To File Form 990/990-EZ/990-PF
  • EIN
  • Legal Name
  • Fiscal year period
  • Current Address
  • Contact number
  • Exemption type
  • List of Officers and Key Employees
  • Prior year return
  • Contributions for the past 5 years
  • Other Revenue details
  • Expenses 
  • Investment Income details
  • Numbers of Employees, Contractors & Volunteers
  • Organization’s Mission
  • Accomplishments for the year (Grants Paid, Projects finished etc.)
  • Donor Advised Fund Information
  • Endowment Funds Information
  • Assets (Art, Historical treasures etc.)
  • Policies
  • Details of Activities 
  • (Political, lobbying, foreign transactions etc.)
  • Related organizations

File Like a Pro with ExpressTaxExempt

Now that you know how to prepare your IRS Form 990 you can easily file your IRS Form 990. At ExpressTaxExempt we support your organization by providing a simplified, interview style filing process, automatic schedules and worksheets, retransmit rejected returns for free, support prior year filing and more!

Success starts with ExpressTaxExempt, so take the first step in maintaining your nonprofit’s tax compliance by signing in or creating your free ExpressTaxExempt account today.

File IRS Form 990 Online

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