We hope you and your nonprofit organization are enjoying some summer fun. Summer is one of the best times to raise funding for a good cause. However, sometimes we can get caught up in so much summer entertainment that we forget about tax time! Depending on the tax year for your organization then your Form 990 could be due on the 15th!
Is Your Form 990 Due?
In case you need a little refreshing Form 990 is the Return of Organization Exempt From Income Tax. Tax-exempt organizations like religious groups, educational groups, charities, and other nonprofit groups are required to file Form 990 to provide the public with financial information about their organization. Form 990 is also used to make sure that financial organizations aren’t abusing their tax-exempt status.
The due date for Form 990 depends on your tax year. It’s due on the 15th day of the 5th month of your tax year. If you have a calendar tax year then your tax year consists of 12 consecutive months beginning on January 1st and ending on December 31st.
If your organization has a fiscal year which consists of any 12 consecutive months ending on the last day of any month besides December. So, the due date for your Form 990 being on the 15th day of the 5th month of your tax year depends on the first month of your fiscal tax year.
For example, if your tax year started in February then the 5th month would be June, making your Form 990 due on June 15th! If this deadline snuck up on you, don’t panic. We can help. Head to ExpressExtension to e-file Exempt Organization Tax Extension Form 8868.
IRS Form 8868 is the form used by charities, nonprofits, and other tax-exempt groups to apply for an automatic 6-month extension on their returns. Because this form is automatic all you have to do is complete your form by the deadline to have your extension approved. Form 8868 is due by your original tax deadline.
The e-filing process is incredibly simple. It only takes a few minutes in order to gain 6 extra months to file your return. All you have to do is head to ExpressExtension.com and create your free account. Then click “Create Exempt Org Tax Exemption” in the dashboard.
Then the step-by-step e-filing guide will take you through the entire filing process. You’ll start by entering the basic information for your organization, such as the name, address, and EIN/Tax-ID. Then you’ll enter in which 990 form you usually file.
After that, we will present you with an information summary of your form so you can make sure that you entered all of your information correctly. Then will perform an audit check to catch any basic errors.
Once any corrections have been made pay for your form and transmit it directly to the IRS. You’ll be notified via email when your form is approved within minutes of transmitting it and you can also view live status updated about your form in your account.
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 [email protected] We will be more than happy to answer any questions that you may have.