Certain onprofits must file 990 forms by June 17 to avoid penalties and maintain tax-exempt status. Tax990 offers streamlined solutions for last-minute filing

ROCK HILL, SOUTH CAROLINA, UNITED STATES, June 13, 2024 /EINPresswire.com/ -- June 17th is just a few days away, meaning that the last-minute filing rush for certain nonprofits has arrived.

Depending on the organization’s tax year, they may be required to complete and transmit their 990 Series returns to the IRS this month.

For nonprofits, filing 990 Series returns isn't just about meeting regulatory requirements, it is also vital for maintaining transparency, credibility, and trust within their community. Failure to meet this deadline could result in serious consequences, risking the organization’s tax-exempt status and tarnishing its reputation.

Organization Confronting the 990 Deadline on June 17
The IRS requires nonprofit organizations to file their 990 forms by the 15th day of the 5th month after their tax year ends. Organizations operating on a fiscal year from February 1st to January 31st have a deadline of June 17th.

This deadline also applies to organizations that have filed an extension using Form 8868, with the original deadline being December 15, 2023. Since the 15th day of the month falls on a weekend, all organizations should file by Monday, June 17th.

990 Forms that are Due June 17th:
All variants of the 990 forms share a common deadline. It's important to note that nonprofit organizations must select the appropriate 990 form based on their organization’s profile.

Here are the requirements for filing each 990 form:
- Form 990-N - For organizations with gross receipts of $50,000 or less.
- Form 990-EZ - For organizations with gross receipts < $200,000 and assets < $500,000.
- Form 990 - For organizations with gross receipts of $200,000 or more (or) assets of $500,000
- Form 990-PF - For organizations classified as Private Foundations.
- Form 990-T - For organizations with unrelated business income of $1000 or more.

Tax990 Offers a Streamlined Solution for Nonprofits to Meet the Deadline:
Tax990 is a platform tailored for nonprofits, streamlining the preparation and filing of Form 990.

Key features for simplified, last-minute filing include:
- Tax990 automatically includes the required schedules at no extra cost.
- Offers Direct-form entry and interview-style filing options for convenient preparation of forms.
- The Internal Audit Check feature checks the completed form for correctness based on the IRS Business Rules, preventing common errors and spotting
missing information.
- If the return gets rejected by the IRS, clients can easily amend any errors and Retransmit it to the IRS for free.
- Reviewers and Approvers feature - clients can share 990 returns with their organization’s board members for final approval.

Additionally, Tax990 provides specialized features for CPAs and tax preparers, enhancing the efficiency of tax filing.

CPAs can invite their team members and delegate the filing responsibilities efficiently. Furthermore, they can share the completed forms with their clients and have them review and approve the returns before transmission.

Tax-exempt organizations and tax professionals can begin their 990 e-filing journeys now by signing up for a free account at www.Tax990.com

About Tax990:
Tax 990 is the premier, IRS-authorized e-file provider of nonprofit tax forms. Tax990 provides solutions for nonprofits that are required to file Form 990-N, 990-EZ, 990, 990-PF, 990-T, California Form CA-199, 8868, 1120-POL and 8038-CP with the IRS. With advanced features and affordable pricing, the goal of Tax990 is to help nonprofits file easily, so they can continue to keep doing good.

About SPAN Enterprises:
Based in Rock Hill, South Carolina, SPAN Enterprises has been developing industry-leading software solutions for IRS e-filing and business management tools for over a decade.

The SPAN Enterprises portfolio of products includes TaxBandits, Tax990, ACAwise, ExpressExtension, 123PayStubs, and TruckLogics.

Stephanie Glanville
Tax990
email us here

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