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11/15/2017

The November 15 Deadline is Here! What's Next?


The November 15 filing deadline for tax exempt organizations is here!! 

If you’re not aware of today’s deadline and what is due, let’s do a quick recap to bring you up to speed.

Form 990 Series

Tax exempt organizations are required to file one of the following tax returns annually: 

Form 990 is filed by organizations with gross receipts more than or equal to $200,000 or total assets equal to or greater than $500,000.

Form 990-EZ is the Short Form Return of Organization Exempt From Income Tax and is filed by organizations with gross receipts less than $200,000 and $500,000 in total assets.

Form 990-N is for organizations with gross receipts that are less than or equal to $50,000. This form can only be filed electronically.

Form 990-PF is filed by Exempt & Taxable Private Foundations as well as Non-Exempt Charitable Trusts which the IRS treat as private foundations.

Click here to find out what information you’ll need to have in order to file these forms.

Does My Organization Need to File?

All organizations are not required to file on today’s deadline. In order for the November 15 deadline to apply to your organization, you must have filed Part I of extension Form 8868 back in May, and then, filed Part II before the end of your extended deadline in August. This can only be applicable if your organization operates on a Calendar Tax Year.

The standard Form 990 deadline is the 15th day of the 5th month after your tax year ends. That means for organizations with a calendar tax year that ends in December the 990 deadline is on May 15th.

However, if you have a fiscal tax year, meaning your tax year consists of 12 consecutive months and ends any month besides December, your deadline is in a different month. 

There are two types of organizations that must file today:
  1. Organizations with a tax year that ended on June 30.
  2. Organizations whose original filing deadline was May 15 but filed an automatic extension (Form 8868). 
If your organization ended its accounting period (tax year) on June 30, you have the option to file your return today or apply for extension to file with Form 8868. 

If your organization was required to file on May 15 and was granted a 6-month extension to file, you must file today since there is not another extension that can be filed. 


The Easiest Way to File

If you're just now finding out that you need to file, our sister product ExpressTaxExempt is the best option to use. ExpressTaxExempt eliminates the worry about missing your Form 990 filing deadline! With its simple, interview style e-filing process, you can complete your form and instantly transmit it directly to the IRS.

They offer easy e-filing for Form 990 Series returns (Form 990, Form 990-N (e-Postcard), Form 990-EZ, and Form 990-PF) so you can quickly file the correct 990 Form for your organization. For more information on e-filing pricing, click here.

Follow the simple step-by-step guide to create your free account, enter basic information about your organization, complete the form interview, review your information and audit report, pay for your form, and transmit it directly to the IRS. The entire process is completed in 5 simple steps!

Let Us Help You File

Although time is winding up, you still have enough time to file your Form 990 with ExpressTaxExempt. If you have any questions, feel free to contact our support team of e-file experts at 704.839.2321 for any questions or help with your e-filing experience. We’re available Monday through Friday from 9 a.m. to 6 p.m. EST, and even offer extended customer support hours tonight for the November 15 deadline. You can also reach us 24/7 via email with support@ExpressTaxExempt.com.
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11/14/2017

Automatic Extension Deadline is Tomorrow | File Now!


Organizations who filed an extension for the May 15, 2017 tax filing deadline must submit their appropriate 990 return by tomorrow, November 15

In order to have this deadline, you must have filed Part I of extension Form 8868 back in May, and then, filed Part II before the end of your extended deadline in August. This is only applicable if your organization operates on a Calendar Tax Year. 

Organizations with a Fiscal Tax Year have a second extended deadline six months beyond the 15th day of the 5th month after your tax period ends (only if you filed Part I & Part II). 

What Exactly Do I Need To File?

Form 990 is the Return of Organization Exempt From Income Tax form which many tax exempt organizations such as religious groups, educational groups, charities, and other nonprofit groups are required to file each year to provide the public with financial information about their organization. 

Forms included in the Form 990 Series are Form 990, 990-EZ, 990-PF, and 990-N. These forms should be filed each year by a leader within your organization.

Failure to File Penalties

Failing to file by the November 15 deadline will lead to very expensive penalties, depending on the amount of gross receipts for your organization. If your organization collects $1,000,000 a year and you’re late with filing, the IRS will charge a penalty of $20 each day your form is late. The maximum penalty would be $10,000 or 5% of your gross receipts, whichever is the smaller amount. The penalty charge shoots up to $100 per day with a maximum of $50,000 for organizations that exceed $1,000,000 in gross receipts. 

Filing Your Return In Time

Although the clock is ticking, you still have time to file by tomorrow’s deadline. The most simple and safest way to file your taxes online is through ExpressTaxExempt, the #1 IRS authorized e-file provider. 

The ExpressTaxExempt interview-style process allows you to complete your 990 form and instantly transmit it directly to the IRS. Simply follow the step-by-step guide to create your free account, enter basic information about your organization, complete the form interview, review your information and audit report, pay for your form and transmit. 

Benefits of Filing with ExpressTaxExempt 

Our recently reduced pricing for filing Form 990 Series returns is paired with several exclusive features such as bulk upload for large amounts of information, mobile filing for iOS and Android devices, error-checks which make sure you don't leave any necessary fields blank, and live phone, chat and email support for any questions you may have.

Furthermore, ExpressTaxExempt takes the security of its users very seriously and ensures that all information entered is stored with our intensive, up-to-date web securities which are guaranteed to safeguard your private information. 

We're Always Here To Help

If you have any questions regarding the e-filing process give the dedicated ExpressExtension support team a call. We’re available Monday - Friday from 8:30 AM to 5:30 PM EST at 803.514.5155. We also are available via live chat and offer 24/7 email support at support@expressextension.com. We will be more than happy to answer any questions that you may have.
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