Filing a Form 990 Series Return for your 501(c)(3) organization can seem daunting, especially as the May 16th deadline quickly approaches. Your organization may have a deadline of May 16 if you operate on a calendar year or filed extension Form 8868 for the November 15 deadline.
If you work for a smaller nonprofit, you may find yourself wondering why you have to provide the same amount of detailed information as organizations that are much bigger than yours. Luckily, the IRS provides different forms based on the gross receipts, size, and function of your nonprofit or tax-exempt organization.
Smaller nonprofit organizations may qualify to file Form 990-N. Form 990-N is known as the e-Postcard of 990 forms and is used to report information about an organization’s finances to the IRS and the public domain. ExpressTaxExempt can help you file this eight-question form, so that your organization can meet the May 16th deadline on time!
Should your organization file Form 990-N?
Form 990-N is intended to be filed by nonprofit and tax-exempt organizations with gross receipts under $50,000. Even if your organization’s gross receipts add up to $50,000 or less, your organization may not qualify to file Form 990-N. As a rule of thumb, Private Foundations and Political Organizations typically do not meet the requirements to file Form 990-N and may be advised to file Form 990-PF, 990, or 990-EZ.
The best way to confirm whether your organization can file Form 990-N or not is to check the IRS list of Form 990-N ineligible organizations. Click here to see the list and learn if your organization is eligible.
Organizations that do qualify for Form 990-N will sometimes choose to file a longer return, such as Form 990-EZ or Form 990. These forms require more detailed reports of an organization’s financial information. An organization may decide to take this route if they wish to be more transparent regarding their financial health and tax-exempt status. Though it is not required, transparency with the public can help an organization’s donors feel more confident in their donations.
Prepare for the May 16 Deadline
You will need to know your organization’s Employer Identification Number (EIN), legal name and mailing address, your organization’s website URL (if applicable), and proof that your organization received less than $50,000 in gross receipts for the tax year you are filing for.
Can’t locate your organization’s EIN? Click here to learn how to look up information about your organization.
Filing Form 990-N is as Easy as 1-2-3!
ExpressTaxExempt has made it easier for you to meet your May 16 deadline with three simple steps to complete your organization’s Form 990-N return before the deadline.
Step 1: Update Organization Information
Input EIN, Organization Name as registered by the IRS, Organization Address and Website Address, and the organization’s Principal Officer Details.
Step 2: Choose your Organization’s Tax Year
Choose whether your organization operates on a calendar tax year or a fiscal tax year. If your organization’s Form 990-N deadline is May 16th, it is likely that your organization operates on a calendar tax year but confirm this by checking your organization’s past returns or your organization’s determination letter from the IRS. Some organizations can find their determination letter using the IRS Tax Exempt Organization Search Tool.
Step 3: Review and Transmit to the IRS
ExpressTaxExempt allows you to file for multiple organizations from a single account. After you transmit your return to the IRS, you will be able to verify your status within the next few business days dependent on the IRS response time. Re-transmit a rejected return at any time for free, if the original return was transmitted with ExpressTaxExempt.
Are you ready for the May 16 deadline? It’s never too early to file! File now to avoid potential fees from the IRS! ExpressTaxExempt can help you meet your May 16th Form 990-N deadline and remain IRS compliant.
For more information regarding the May 16th deadline or more tips to help simplify your filing process click here!