Tax990 Simplifies 990-PF Filling For Private Foundations
*Private Foundations Of Every Size Can Meet Their May 15, 2024 Deadline With Tax990*
*ROCK HILL, SC / ACCESSWIRE / May 6, 2024 / *As the May 15, 2024 deadline for filing 990 series tax returns approaches, nonprofit organizations operating on a calendar tax year across the nation find themselves immersed in the meticulous task of preparing and submitting their returns promptly.
Nonprofits that are classified as public charities for exemption purposes must choose and complete either 990, 990-EZ, or 990-N (depending on their gross receipts and assets). However, to meet their annual filing requirements, organizations classified as private foundations must file Form 990-PF, regardless of their financial status.
These private foundations can get started with Tax990, an industry-leading e-file provider authorized by the IRS, to simplify their 990-PF filing process on or before the deadline to maintain their tax-exempt status.
*Form 990-PF E-filing: Simplified with Intuitive Features*
Loaded with numerous helpful features, Tax990 ensures a seamless filing experience for private foundations of all sizes. Clients can simply create a free account, complete their form, review it, pay the filing fee, and transmit it to the IRS with ease.
Tax990 offers a user-friendly interface that allows its clients to navigate the filing process in one of two ways. There is an Interview-style and a Direct-form entry option. Clients who file their 990-PF for the first time may choose the *Interview-style* option. This guides them through the form with a series of interview-based questions that help with entering amounts properly. Clients that have experience filing 990-PF may choose the Direct-Form method, as they are comfortable with completing the form line-by-line.
Tax990 offers *Excel templates*, enabling their clients to upload contributions data in bulk for 990-PF filing. Also, clients who have received contributions of $5000 or more from any one contributor will have *Schedule B** included for free* with their 990-PF.
There is a major benefit for clients who file their 990-PF return year after year with Tax990. These organizations can *copy certain information from their prior year's return.* This information will be populated on their current year's return, saving them even more time and effort.
Once clients complete their 990-PF, Tax990 *audits the return* based on the IRS Business Rules to identify common errors. Not only does Tax990 promote the accuracy of the 990 returns their clients file, but if the return is rejected, they can* correct and retransmit it at no additional cost.*
*Exclusive PRO Features for Tax Professionals*
Paid preparers and Electronic Return Originators (ERO) who manage the 990-PF filings for multiple private foundations can rely on Tax990 this May and beyond.
Tax professionals can expedite and streamline the filing process with the help of their team by* inviting their staff and assigning them pre-defined roles*. Moreover, Tax990 enables tax professionals to obtain their clients' e-signatures in minutes using *Form 8453-TE or 8879-TE*. They can also share the completed returns with their clients for their* review and approval* before transmission.
*Additional Supported Forms*
In addition to Form 990-PF, Tax990 supports all the 990 series forms and a few other tax returns that nonprofits may need to file.
*Form 990-N* - Applicable for organizations with gross receipts of $50,000 or less
*Form 990-EZ* - Applicable for organizations with gross receipts < $200,000 and assets < $500,000
*Form 990* - Applicable for organizations with gross receipts ≥ $200,000 (or) assets ≥ $500,000
*Form 990-T** - A supporting form applicable for organizations that earn an income of $1000 or more from unrelated businesses/trades*
*Form 8868* - Extension form that private foundations and other nonprofits can use to extend their 990 deadline by up to 6 months.
*CA Form 199* - Applicable to private foundations and other nonprofits that operate in California.
*Form 1120-POL* - Applicable to political organizations
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 committed to supporting private foundations of all scales, offering a streamlined solution for the fast-approaching 990 filing season. Our platform ensures effortless IRS compliance with personalized customer assistance, efficient features to save time, and customized record-keeping solutions, tailored specifically for private foundations."
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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