Last Filing Deadline of 2017 is Here!

Attention! Attention! The final Form 990 filing deadline is official here. Nonprofit groups and charity organizations who operate on a fiscal tax year ending in July must file their appropriate 990 Form by midnight tonight in order to stay in compliance with the IRS and avoid expensive penalties during the holiday season. 

Luckily, ExpressTaxExempt supports all 990 Forms and even provides the option for users to file an extension to receive more time to file. 

Filing with ExpressTaxExempt is the most hassle-free way to instantly file your Form 990 and transmit it directly to the IRS. Plus, it gets even better than that!

ExpressTaxExempt & GuideStar Collaboration

ExpressTaxExempt and GuideStar have recently joined forces to enable nonprofits to send their tax returns seamlessly to GuideStar as part of the e-filing process. This partnership will reduce the amount of time it takes GuideStar to obtain this information and make it available to the public, furthering the professional impression a nonprofit makes in terms of trust and transparency.

How To E-file Form 990

Before you start the e-filing process, it’s best to know exactly which form from the 990 series you need to file. There are a few forms to choose from: 

Form 990: The form filed by organizations with gross receipts that are equal to or more than $200k or with total assets equal to or more than $500k. 

Form 990-EZ: This is the Short Form Return of Organization Exempt From Income Tax. It’s used by organizations with that have less than $200k in gross receipts or less than $500k in total assets. 

Form 990-N: This is the e-postcard for Electronic Notice of Tax Exempt Organizations that aren’t required to file Form 990 or Form 990-EZ. Organizations with gross receipts that are normally less than or equal to $50k are required to electronically file this form. It can’t be paper filed. 

Form 990-PF: This is the Return of Private Foundation and it’s filed by private organizations in the United States. You must include a fiscal list of information and a total list of your grants to complete this form. 

Get Extra Time to File

With Christmas being just a week and some days away, we understand how hectic things may be right now. If you need more time to file, you can quickly e-file extension Form 8868 and receive an automatic 30-day extension. 

We're Always Here To Help

Our U.S.-based customer support team is standing by ready to assist you with any questions that you may have about e-filing Form 990, 990-EZ, 990-N or Form 8868. Feel free to contact one of our experts at 704.839.2321. We’re available Monday through Friday from 9 a.m. to 6 p.m. EST. You can also reach us 24/7 via email with support@ExpressTaxExempt.com.

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3 Major Tips For Last Minute Filing

Filing taxes under pressure can be stressful and a headache, to say the least. With the November 15 deadline quickly approaching for fiscal tax year organizations that operate from July 1 - June 30, the pressure is on to submit your appropriate 990 tax return by tomorrow. 

Here’s a few last minute tax filing tips that can be helpful when meeting the November 15 deadline:

Know Which Form To File

The quickest way to have your 990 return rejected is to file the incorrect form. This detailed list of the the Form 990 series will help you understand what specific form your organization needs to file. 

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.

• Information Needed: Program services, revenue, expenses, supplemental financial statements, net assets, balance sheets, list of employees, other IRS filings, and tax compliance along with the organization’s governance, management, and disclosures.

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.

• Information Needed: Organization’s EIN, gross receipts and assets must be provided. Also, all appropriate, required Schedules must be completed and attached when filing Form 990-EZ.

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.

• Information Needed: Organization’s EIN, tax year, legal name & address, different names used by the organization (if applicable), website (if applicable), name & address of a principal officer, confirmation of gross receipts of $50,000 or less, and a statement that the organization is going out of business (if applicable). 

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

• Information Needed: Organization’s name and EIN (as it appears on IRS records), organization’s revenue and expenses, net assets, capital gains and losses for tax on investment income, charitable activities, program-related investments, as well as information on its officers, directors, trustees, etc.

E-file with an Authorized E-File Provider

E-filing tax returns for your exempt organization makes life so much easier; especially with ExpressTaxExempt. With our interview-style e-filing process, you can complete your form and instantly transmit it directly to the IRS. 

We offer easy e-filing for Form 990 Series returns so you can quickly file the correct 990 Form for your organization. For more information on e-filing pricing, click here. 

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 it directly to the IRS. The entire process is completed in 5 simple steps!

Are you completely overwhelmed and need more time to file your 990 return? No worries! We even offer Extension Form 8868 which provides you with an additional 6 months to file. 

Meet The Deadline

Although the clock is ticking, you still have time to file and transmit your organization’s 990 return directly to the IRS by the November 15 deadline. As the #1 authorized e-file provider, ExpressTaxExempt will guide through the entire filing experience. 

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 or reach us 24/7 via email with support@ExpressTaxExempt.com.

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The Secret to Stress-Free Form 990 Filing

The month of November is rather nostalgic with the Fall season bringing about cooler temperatures and Thanksgiving kicking off holiday gatherings and celebrations. 

November is also a big month in the tax exempt industry. If your exempt organization operates on a fiscal year which ends on June 30, your IRS Form 990 return is due by November 15. If you operate on a calendar year (original due date of May 15) but filed a 6-month extension through Form 8868, your 990 return is due also. 

Deadlines are never fun and trying to meet them can become stressful. Thankfully, e-filing with ExpressTaxExempt eliminates the stress of tax filing while on a time-crunch. 

ExpressTaxExempt offers the entire Form 990 Series to be completed in the most simple and easiest method possible. You won’t have to worry about missing your Form 990 deadline because the interview style e-filing process will help you complete your form and instantly transmit it directly to the IRS. 

All that you will need to do is 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! 

Failing to file your Form 990 return can result in accumulating expensive penalties very quickly. If your organization fails to file on time and has less than $1,000,000 in gross receipts for the entire year and do not provide reasonable cause for missing the deadline, the IRS will charge you $20 per day for every day that your return is late. 

This penalty continuously accrues until you reach the maximum of $10,000 or 5% of your organization’s total gross receipts, depending on which amount is less. Filing with ExpressTaxExempt prevents this from happening. 

Stress-Free Filing

The best way to handle any type of situation, especially tax filing, is to be prepared. By being proactive and having a tax plan in place, the risk of last minute tax surprises can be avoided. Here are some other ways to have stress-free filing experience: 

1. Know your specific filing deadline 
2. Determine and Organize all of the information you will need when filing in advance. 
3. Strategize the amount of time needed to file your 990 while still conducting the daily tasks of your exempt organization, charity, etc. 
4. Maintain detailed records throughout the calendar or fiscal year. 
5. Utilize the ExpressTaxExempt website as an informative resource before, during, and after the e-filing process. 

Filing Process

Our service at ExpressTaxExempt is dedicated to providing the best and most efficient e-filing experience for tax exempt organizations, no matter how big or small. Because of this, all ExpressTaxExempt users can begin the filing process for free and easily enter their organization’s information individually. Payment is only required at the very end when it’s time to transmit your return directly to the IRS. Furthermore, our interview-style form completion includes internal audit checks to ensure that all information is entered properly with no areas left undone, auto-generated IRS form Schedules to accompany your 990 return, along with several other exclusive features.

We're Help To Help

E-filing your appropriate Form 990 Series return before the November 15 due date with the #1 authorized IRS e-file provider (ExpressTaxExempt) is a piece of cake. 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 or reach us 24/7 via email with support@ExpressTaxExempt.com.

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ExpressTaxExempt & GuideStar Join Forces to Benefit Nonprofits

Author John C. Maxwell once said that “teamwork makes the dream work.” ExpressTaxExempt can attest to this with the launch of our newest exclusive feature, Express990. 

It is with great excitement that ExpressTaxExempt launches Express990, in collaboration with GuideStar, to benefit thousands of nonprofit organizations. Nonprofits will now be able to seamlessly export their completed IRS Form 990, 990-EZ, and 990-PF returns directly to GuideStar with this new integration.

As the world’s largest source of nonprofit information, GuideStar collects pertinent information, including annual IRS filings, and distributes it through its website and more than 200 partner sites and applications. 

The collaboration between GuideStar and ExpressTaxExempt, the #1 e-file provider for thousands of nonprofit organizations, nonprofits now have the ability to send their tax returns directly to GuideStar as part of the e-filing process. 

Furthermore, this partnership will reduce the amount of time it takes GuideStar to obtain this information and makes it available to the public which will also greatly improve upon the professional impression a nonprofit makes in terms of trust and transparency. 

Donors and potential supporters will have almost immediate access to up-to-date information for the nonprofits that select this option. Normally, it takes months before GuideStar obtains 990s from the IRS because the IRS must process them first. Express990 eliminates this delay; each return is transmitted to GuideStar as soon as it is accepted by the IRS.  

Express990 sends GuideStar exactly the same data that was submitted to the IRS under penalty of perjury. This valuable information can be utilized when determining grant approvals, contributions, and more. Information regarding each organization's mission, income, expenses, finances, and leadership will be completely transparent. This transparency can greatly increase a nonprofit’s chances of donor recognition and receive funding in a more timely manner. 

Nonprofits will also have access to several exclusive ExpressTaxExempt features, including management of reviewers, approvers, and additional users, along with internal audit checks, multi-organizational filing, and multi-tax period support. Tax returns filed with ExpressTaxExempt are transmitted directly to the IRS and can be accepted within hours. Users also receive real-time email notifications with tax return updates. Best of all, ExpressTaxExempt offers a 100 percent, US-based customer support team for any and all inquiries an organization may have in regard to its e-filing.

The collaboration between ExpressTaxExempt and GuideStar, along with the launch of Express990, is a “win-win” situation for nonprofit organizations across the country. Nonprofits will be joining a platform of 1.8 million IRS-recognized nonprofit and tax-exempt organizations on the GuideStar website. Potential donors and funders will be able to quickly obtain the information that they need to evaluate your nonprofit. A process that would usually take months, can now be completed within a few days. 

We're Here To Help

As always, our aim at ExpressTaxExempt is to be of assistance to tax-exempt organizations as we dedicate our services to providing the best and most efficient e-filing experience. Make the best choice for your nonprofit and experience the great benefits of Express990 by visiting our website today at www.expresstaxexempt.com. 

For any assistance or questions about e-filing our available 990 forms, you can contact our live professionals by phone at 704-839-2321, Monday through Friday from 9 a.m. to 6 p.m., EST), by email (support@expresstaxexempt.com), or by live chat (www.expresstaxexempt.com).

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The May 15th Deadline Approaches

May day! May day!

The May 15th deadline is almost upon us!

For those of you new to the tax-exempt game, May 15 is a major deadline for 990 Forms because it’s the 15th day of the fifth month following the end of the calendar tax year. You may remember in all that paperwork to become a tax-exempt organization, it told you that you’d need to file a 990 Form by the 15th day of the fifth month after your tax year ends. And since the calendar tax year, which runs from January 1 to December 31, is used by a lot of tax-exempt organizations (“a lot” as in “most of them”), May 15 is the official unofficial 990 Form deadline!

Now, if you have a tax year that runs from, say, July 1 to June 30 (deadline: November 15) or September 1 to August 31 (deadline: January 15) or any other set of 365 consecutive days, you can disregard this deadline. But make sure you know when your tax year end date is so you can determine your actual due date for Form 990.

What Happens If I File Form 990 Late?
Ah, a good question, to be sure! If you’re required to e-file Form 990-N (the e-Postcard), there aren’t really any immediate penalties for filing late. Just be sure to get it in as soon as you can if you realize a little too late that you’ve missed the deadline. Keep in mind, though, that if you go more than three consecutive years without e-filing a 990-N (or any 990 form), your tax-exempt status will be automatically revoked by the IRS and you’ll need to apply again for it.

However, if you have to file the 990 Long Form, Form 990-EZ, or Form 990-PF, the IRS does impose penalties for filing your form late. You may be able to get out of these penalties if the organization can provide reasonable cause for why the 990 Form was filed late. If not though, the IRS will charge you $20 for each day the return is late, with the maximum penalty being $10,000 or 5% of your organization’s gross receipts, whichever is less.

And that’s just if your organization earned fewer than $1,000,000 in gross receipts for the tax year you’re reporting. If your organization had gross receipts of more than $1 million, the penalty increases to $100 per day late, with a maximum penalty of $50,000.

Can I Extend the May 15 Deadline?
If you file Form 990-N, no. But that’s just because it’s so easy: all you do is confirm your organization’s identifying information (name, EIN, address), confirm you made fewer than $50,000 in gross receipts by checking a box, and e-file.

If you file Form 990, 990-EZ, or 990-PF, yes! You can use Form 8868 to get an automatic 6-month extension of time to file your 990 Form.

What’s the Best Way to File Form 990 On Time?
Why, with ExpressTaxExempt, of course! This year, we’ve launched a simplified, streamlined version of ETE for the 990-N Form. Just go to epostcard.expresstaxexempt.com and use the information from your ETE account to e-file Form 990-N in three steps!

If you need to file one of the longer forms, it’s still easiest to e-file with ExpressTaxExempt! We’ve broken down the 990 Form into a question and answer style interview to help you more accurately and easily complete your form. And if at any point you think you’ll need more time, you can e-file Form 8868 right from your account before getting back to work.

We also offer top-notch customer support right here from our headquarters in Rock Hill, South Carolina. You can call us at (704) 839-2321, send us a live chat through our website, or email us at support@ExpressTaxExempt.com and we’ll help however we can!

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