May 15th Is Just Two Weeks Away! Tax990 Offers A Simple Solution For Nonprofits To Meet The Form 990 Deadline
*ROCK HILL, SC / ACCESSWIRE / May 1, 2024 / *It's that time of the year again for nonprofits and tax-exempt organizations when they have to be on their toes to meet their annual tax filing requirements!
May 15, 2024, is the due date for nonprofits operating on the calendar tax year to e-file their 990 returns. This is also the extended 990 filing deadline for any organization that requested a 6-month extension (Form 8868) back in November.
Missing the deadline can lead to penalties, loss of tax-exempt status, and damage to the organization's reputation. It's imperative for every nonprofit to file its 990 return punctually with precise information to maintain public trust and integrity.
*990 Series Returns Due to the IRS*
The 990 Series consists of various forms tailored to the filing requirements of organizations of diverse types and sizes. For those following a calendar tax year, May 15 marks the deadline to submit all these 990 forms, including:
*Form 990-N* - Designed for organizations with gross receipts of $50,000 or less
*Form 990-EZ* - Designed for organizations with gross receipts < $200,000 and assets < $500,000
*Form 990* - Designed for organizations with gross receipts ≥ $200,000 (or) assets ≥ $500,000
*Form 990-PF** - Designed for organizations classified as Private Foundations*
*Form 990-T** - A supporting form designed for organizations that earn an income of $1000 or more from unrelated businesses/trades*
*Note: *For organizations with Employees' trusts as defined in section 401(a), IRAs (including SEPs and SIMPLEs), Roth IRAs, Coverdell ESAs, or 408(a) (Archer MSAs), the Form 990-T due date may have passed last month on April 15, 2024. However, they can still file now to avoid further penalties.
*Applicable State Deadlines*
In addition to the federal filing requirements, nonprofits may also need to meet their 990 deadlines with their respective state. For most states, this deadline will be the same as the federal deadline. For instance, the nonprofits operating in the state of California must file CA Form 199 (or 199N) by* May 15, 2024*.
*Options for Extending the 990 Deadline*
To aid the nonprofits that haven't prepared for this deadline, the IRS provides an option of extension. The organizations that need more to file their 990 forms can request an extension of up to 6 months by filing Form 8868. This extension is automatic, and the IRS doesn't even require any explanation for requesting more time.
*Seamlessly E-file 990 Forms with Tax990*
With more than 10 years of tax filing expertise, Tax990 offers nonprofits and tax professionals nationwide a streamlined solution for preparing and e-filing 990 forms with ease, security, and precision. As an IRS-authorized e-filing provider, Tax990 supports all 990 forms, CA Form 199, Extension Form 8868, and other necessary tax returns for nonprofits.
An intuitive interface blended with advanced features makes Tax990 a reliable e-filing partner for numerous nonprofits nationwide. Here are just a few highlights of the Tax990 application:
· *Free Schedules: *In addition to the 990 forms, Tax990 automatically includes all the necessary Schedules at no extra charge.
· *Copy Data:* If clients have filed prior year returns with Tax990, they can easily transfer some of that data to their current return.
· *Bulk Upload: *Tax990 provides Excel templates to clients for the easy import of filing data.
· *Internal Audit Check:* Tax990 audits the completed forms according to IRS Business Rules to ensure accuracy before transmission.
· *Instant Status Updates: *After transmitting returns, Tax990 provides clients with instant updates on IRS status through email and directly in their accounts. Clients can even choose to receive text notifications.
· *Retransmission of Rejected Returns: *If the IRS rejects clients' filed returns, they can correct errors and resubmit returns for free.
· *Dedicated Support:* Tax990 is powered by an excellent live support team that is available to assist throughout the filing process via phone, email, and live chat.
*Exclusive PRO Features for Tax Professionals*
Tax professionals managing their clients' 990 filings can use Tax990 for a streamlined e-filing process.
*Staff Management* - Tax professionals with numerous clients can invite their staff, assign them roles, and empower them to manage filings collaboratively.
*Client Management* - Tax990 allows tax professionals to share the completed returns with clients via a secure portal for review and approval.
*E-Signing Options* - With Tax990, Paid Preparers and Electronic Return Originators (ERO) can obtain e-signatures from their clients using Form 8453-TE and 8879-TE, respectively.
When asked about the upcoming deadline, Agie Sundaram, the CEO and Co-founder of SPAN Enterprises (parent company of Tax990), responded by stating, "At Tax990, we're dedicated to serving organizations of all sizes, providing a seamless solution for the upcoming 990 filing season. Our platform ensures smooth IRS compliance with dedicated customer support, time-saving features, and tailored record-keeping solutions for nonprofits, regardless of their size."
Nonprofit organizations and tax professionals can begin their 990 e-filing journey today by creating a free account at 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, 8868, California Form CA-199, 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.
For all media inquiries, please contact Stephanie Glanville, Content Writer, at stephanie@spanenterprises.com.
*SOURCE:* Tax990
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