If your organization’s tax year ended in May, you may have a filing deadline of October 15th for your annual 990 series return. With this tax deadline quickly approaching, here’s everything you need to know about e-filing a 990 series return.
What is a 990 Form and when is mine due?
990 series returns are used by nonprofits and other tax-exempt organizations to report their financial activity for the tax year. Your due date depends on the type of form you file and your tax year, or the period for which you are reporting your finances. There is a variety of 990 forms that correspond to different incomes and types of nonprofits, including
Form 990– Used by tax-exempt organizations with gross receipts of $200,000 or more or total or total assets of $500,000 or more, and due by the 15th day of the 5th month after your tax period ends.
Form 990-N– Used by tax-exempt organizations with gross receipts of $50,000 or less and due by the 15th day of the 5th month after your tax period ends.
Form 990-EZ– Used by tax-exempt organizations with gross receipts of less than $200,000 and total assets less than $500,000, and due by the 15th day of the 5th month after your tax period ends.
Form 990-PF– Used by private foundations and nonexempt charitable trusts to calculate taxes based on income, and due by the 15th day of the 5th month after the tax period ends.
Form 990-T– Used by exempt organizations with a gross income of $1,000 or more from unrelated business for the tax year, and due by the 15th day of the 4th month after the tax period for employees’ trusts, IRAs, Roth IRAs, Coverdell ESAs or Archer MSAs. For all other trusts and exempt organizations, the due date is the 15th day of the 5th month after the tax year ends.
CA Form 199– Used by tax-exempt organizations in California to report state-specific forms on financial activity and due by the 15th day of the 5th month after the tax year ends.
Form 8038-CP– Used by issuers of bonds to claim payments from the government, and must be submitted no later than 45 days before the relevant interest payment date.
1120-POL– Filed by organizations with political organization taxable income exceeding $100 for the taxable year, and must be filed by the 15th day of the 4th month after the tax year ends.
ExpressTaxExempt also supports Form 8868, used to request a six-month extension on your original form and due on or before your original filing deadline.
As most forms have due dates of 15 days into the 5th month after your tax year ends, it is easy to calculate your due date. For example, if you follow a calendar tax year, your due date is May 15th. If your tax period ended in May or you follow a calendar year and you filed for a six-month extension on your original form, your last day to file is this month, October 15th.
How do I file my form?
The IRS mandates that organizations file their annual 990 series returns electronically. If you’re a first-time filer or you’re used to paper filing, this may be a daunting task for you. However, ExpressTaxExempt provides multiple features designed to support you along the way.
ExpressTaxExempt offers two options for e-filing your return: form-based and interview-based. The form-based option allows you to directly input your information onto a digital form, mimicking paper filing. This is especially useful for those who are used to paper filing. The interview-based option allows you to answer questions about your financial activity and automatically inputs your answers onto the form. This is useful for those who may be new to filing or are more comfortable with a question-and-answer format.
What features are included with ExpressTaxExempt?
In addition to our styles of filing, we include various features that make your filing experience more enjoyable. We offer step-by-step guidance while filling out your forms, and our website has a database full of FAQs, guides, instructional videos, and informative blogs. If you need any help or get stuck on a part of your form, you can contact our live customer support team, available via chat, email, and phone. You’ll also receive IRS updates on the status of your form.
In addition to live support, ExpressTaxExempt features an internal audit check to review your form for any IRS instruction errors and instructions on how to fix them before transmitting it to the IRS. You may also re-transmit any rejected forms for free, or amend your returns once they’re accepted. If you want any colleagues to assist with or review your form, you can manage them through your account with ExpressTaxExempt.
If you’re a returning user, you can copy your information from previous returns to speed up the process. You can also view your past returns for reference. ExpressTaxExempt also supports Form 990 Schedules, which are auto-generated to your form as needed.
ExpressTaxExempt is a one-stop solution for all of your Form 990 e-filing needs. Get ahead of your approaching deadline and create an account with us today at https://www.expresstaxexempt.com/ to get started!