Filing 990 at The Last Minute? Learn These Tips!

We believe that filing tax returns for your exempt organization should be as hassle-free as possible.

That’s why we offer an easy, intuitive tax-filing software that works with you to help keep that all-important compliant status with the IRS for your organization.

We’ve taken the complication out of filing Form 990 and reduced it to a form that is as tamed as a kitten!

Read on below to find out which 990 Form you should use when filing, what filing information you should have available, and how to make filing a breeze!  That’s as easy as 1-2-3!

Just to be sure...

When approaching the task of filing a 990 for your organization, take a few moments to read over this chart to get an overview of the various forms, as well as a heads up about what you’ll need.

You may have noticed...

There’s a big difference between Form 990-N and the rest of the IRS Form 990 forms. Either way, you will be filing based on the financial status of your organization, determined based on your gross receipts and assets.

IRS Form 990 and IRS Form 990-N (e-Postcard) are the most confused forms. If you are responsible for filing your nonprofit’s tax return, knowing which form to use is essential.

So, let’s dig a little deeper into the differences in filing IRS Form 990 versus filing Form 990-N.

Filing Form 990-N:

IRS Form 990-N (e-Postcard) is for nonprofit organizations with gross receipts that do NOT exceed $50,000. This form is typically filed by smaller nonprofit organizations and is the quickest 990 tax form to complete.

990-N sounds pretty great, right?  Be careful! There are certain organizations that aren’t allowed to file the e-Postcard version of 990.  Check this list and be sure you’re not on it before you try filing Form 990-N.

990-N is a no-go for:

• Political organizations required to file an exempt organization return annually
• Private foundations (File Form 990-PF)
• Supporting organizations such as:
• Organizations with gross receipts $5,000 or less and classified as a section 501(c)(3) religious organization.
• Auxiliaries of Churches
• Exclusive religious activities (by religious orders)

Filing Form 990:

If you’ve figured out that you can’t file a 990-N, that doesn’t mean you’re off the hook! If you want to remain tax-exempt and avoid hefty IRS penalties, you’ll still be filing, but you’ll use one of the other 990 forms available.  It will be either the 990 EZ, Form 990, or the IRS Form 990 PF.

Regardless, ExpressTaxExempt is here to get you through it. Regardless of the form, we have a simple process in place to help guide you through filing. We really walk you through it, so you can have the confidence that you’re completing the right form, and completing it correctly.  We’ve pulled out all the stops, including checks that keep all your information accurate.

Ready to file?

The uniqueness of Form 990 is that it has a deadline on the 15th of every month.

Depending on the calendar or fiscal tax year of your organization, you may have a 990 Form due soon!

Click below and start your simple process for filing Form 990 at the last minute.

Don’t let procrastination get in the way! File today!

File 990 today!

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Exempt Organizations Need To File IRS 990 With ExpressTaxExempt

We think it’s pretty safe to say that there’s no place like home.

If you filed IRS Form 990 within the past year, you became familiar with our sister product TaxBandits, which helps exempt organizations tackle the world of compliance beyond IRS 990 forms.

After much consideration and feedback from awesome clients like yourself, we have decided to relaunch ExpressTaxExempt as the reigning hub for “all things 990!”

No need to worry–if you enjoyed all of the bells and whistles of TaxBandits, you can still e-file your nonprofit tax reports in the same place as you can your W-2, 1099, and even your quarterly Form 941.

Our mission at ExpressTaxExempt will always be to keep your organization compliant and exempt from taxes with simplified e-filing.

Instead of navigating through several websites for the tax-exempt forms you need, we’ve consolidated all our resources under one name and brand. Our service is dedicated to providing the best and most efficient e-filing experience for tax-exempt organizations, no matter how big or small.

Your account information will remain the same for both ExpressTaxExempt and TaxBandits, so there’s no need to worry about creating a new account and remember yet another complicated password.

Best of all, we now offer special bundled pricing which allows you to save 5% when you bundle your Form 990 filing with your 8868 Extension Form. Check out the new pricing, here.

Now that ExpressTaxExempt is back up and running like never before, come on back home and visit our website to get an early start on your IRS Form 990.

Welcome Home!

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Reminder: Today is THE Day for Nonprofits to File 990s

If you’re thinking you’re going to keep putting off filing Form 990 for your nonprofit organization, we have one thing to say to you:

















Maybe that was a little harsh, but you really needed a wake-up call! You have SO MUCH to lose! If you fail to file a 990 Form for your nonprofit, not only could you face penalties and fines from the IRS, you could actually lose your compliance status! That means that the IRS will no longer recognize your organization as a nonprofit.

We really don’t want that to happen, and if that means bringing a red-headed Cher in to handle things, well look, we’ll do it. That’s how much we want you to get started, NOW on filing your Form 990.

But hey, we’re not all spice. We’re also nice. We’ve set up an intuitive, simple, easy-to-use process, and we have it waiting for you. Yes! We’ve been waiting for you to file your 990! We’re ready, and we’ll have your Form 990 ready to file quickly! Don’t believe us?

Okay, Cher, let ‘em have it:

Look, we’ll prove it!  Here’s the exact, step-by-step process you’ll take to file your Form 990 with us!

Step 1: Sign in or create your free account.
Step 2: Add your organization’s details.
Step 3: Answer questions - interview style!
Step 4: Review your information and audit report
Step 5: Pay and transmit directly to the IRS

Okay, that’s it!  No excuses! Let’s get started! We’re behind you. Cher...is in front of you because she’s never behind anyone.  But we’re here! And we know you can do it! Just click below!

File 990 Now!

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How To File By the July Form 990 Deadline

We are almost halfway through another month which means a new Form 990 deadline is right around the corner.

Exempt organizations with a fiscal tax year starting in March must file IRS Form 990 by the July 15 deadline.

However, with July 15 falling on a Sunday this year, you technically have until Monday, July 16 to file your IRS Form 990. Woot woot! \o.o/

Let’s review how to file by the July Form 990 deadline to keep your organization in good standing with the IRS.

How To File By the July Form 990 Deadline

Select The Correct Form 990

There are four types of 990 Forms that exempt-organizations can file. Here’s a super-quick guide on the IRS Form 990 Series to help you determine which 990 Form to file:

Form 990:

If your tax-exempt organization’s gross receipts are greater than $200,000 and your total assets (art, historical pieces, etc.) are greater than $500,000 then this is the form you are searching for.

Form 990-EZ:

If your charitable organization’s gross receipts were less than $200,000, and your total assets are less than $500,000 you will need to file Form 990-EZ.

Form 990-N:

If your organization’s gross receipts for the previous fiscal year were less than $50,000, then this form is for you. This one is actually very different from the other types and is referred to as an e-Postcard.

Form 990-PF:

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

IRS Form 990 E-filing Checklist

Before completing your organization’s Form 990, take a moment to locate and organize all your necessary tax-related information to make the filing process easier and less time-consuming.
Depending on which Form 990 you must file, a variety of information will need to be provided:

Information Needed To File Form 990-N
Employer Identification Number Legal Name Fiscal year period	Principal Officer Current Address Gross Receipts under $50,000

Information Needed To File Form 990/990-EZ/990-PF
EIN Legal Name Fiscal year period Current Address Contact number Exemption type List of Officers and Key Employees Prior year return Contributions for the past 5 years Other Revenue details Expenses Investment Income details Numbers of Employees, Contractors & Volunteers	Organization’s Mission Accomplishments for the year (Grants Paid, Projects finished, etc.) Donor Advised Fund Information Endowment Funds Information Assets              (Art, Historical treasures, etc.) Policies Details of Activities (Political, lobbying, foreign transactions, etc.) Related organization

How To File Form 990

Now that you know how to file by the July Form 990 deadline, file online using ExpressTaxExempt’s self-guided filing process. We assist tax-exempt and nonprofit organizations by providing automatic schedules and worksheets, 100% US-based customer support, prior year filings, and more! Register today and let us help you stay in good standing with the IRS.

File IRS Form 990

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Tips You Need to Know About Fundraising For Nonprofits

Fundraising for your nonprofit can be exciting and rewarding, especially if you have an inside scoop on how to take your fundraising efforts to the next level. We have gathered some simple tips you need to know about fundraising for nonprofits. 

Tips You Need to Know About Fundraising For Nonprofits

Set Goals & Deadlines

The first step you should take when planning a fundraiser is to set your goals and deadlines to reach them more quickly. Before reaching out to potential donors for their support, be sure to determine the amount you are attempting to raise, and when you need it by. Give donors just enough time to donate, but not too much time. Typically, a sense of urgency helps raise more money in a quicker amount of time.

Know Your Audience

Knowing your audience plays a significant part in the success of any fundraising effort. Nonprofits who understand their audience tend to raise more money than those who do not.

Engage With Donors

Forming a good relationship with a donor can benefit your nonprofit organization significantly and allow you to help even more people in your community by engaging with donors. To learn about how to engage with donors, click here.

Host a Fundraiser

Fundraising events are a great opportunity to network with current and potential donors as well as the community face-to-face. With many unique ways to fundraise for your nonprofit, you can easily find the perfect fundraiser that your audience would enjoy.

Provide Convenient Donation Methods

As a nonprofit organization, it is critical to invest in convenient donation methods for your donors. Transitioning from traditional to online fundraising is more straightforward than you might think. It will increase your donor base from just the local community to national.

Thank Your Donors

“Thank You” goes a long way! Be sure to thank your donors for their contribution briefly and compellingly. This can be done via email or letter and should be sent soon after their contribution has been received.

Show The Impact Made

Once you have completed your fundraiser, don’t just move on to the next project. Donors like to see the positive effects of their contributions. Show the impact your nonprofit organization made with the proceeds of the fundraiser and also increase your chances of future donations.

A Helping Hand

Be sure to save those receipts when planning a fundraising event and know that ExpressTaxExempt is always here to be a consistent resource to you and your organization for all things tax exempt!

Visit our website for any tax forms that your tax-exempt organization may need throughout this year and save even more when you e-file with our recently reduced filing rates!

Register For My Free Account!

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New Schedule A Features Just in Time For The May 15 Deadline

Organizations that operate on a calendar tax year (January - December) have a major tax filing deadline coming up on May 15th. If you have filed a Form 990 or Form 990-EZ before, you know that there are “Schedules” that are attached to your return which provides necessary additional information regarding your organization.

There are a total of 24 Schedules between Form 990 & 990-EZ; today we will focus on the most commonly filed Schedule (Schedule A) and its newly developed features with our sister product TaxBandits. Here’s what you need to know about new Schedule A features just in time for the May 15 deadline.

New Schedule A Features Just In Time For The May 15 Deadline

TaxBandits makes the e-filing process easier for all of our clients by automatically generating Schedule A once you provide answers to prompted questions when preparing your Form with our software.  

Well, we have talked about it enough, so let’s dive into the world of Schedule A. 

What is Schedule A?

Schedule A is used by tax-exempt organizations or any organization that files Form 990/990-EZ to provide information about its public charity status and public support. This Schedule allows your organization to explain its program services and give its mission statement or other descriptions of its charitable goals. 

Essentially, any non-profit that is supported by the public must file this Schedule along with their Form 990. 

Filing Schedule with TaxBandits

Filing Schedule A can be rather time-consuming and intimidating; but not when you easily file with TaxBandits! TaxBandits’ comprehensive software offers a simplified filing process that can be completed quickly, efficiently, and correctly the first time. 

When filing Schedule A with TaxBandits you can eliminate the guessing game of whether or not you passed or failed the public support test. Our built-in audit feature lets you know before you transmit. 

Other newly developed features now allow filers to simply enter contribution totals instead of individual contributions and determines the exact figures for Public Support based on answers provided to our prompted questions during the filing process. 

Best of all, current ExpressTaxExempt and TaxBandits users now have the ability to copy standard information from their previous year return to the current year; saving a great deal of time from the standard filing process.

As the big nonprofit Form 990 filing deadline quickly approaches on May 15th, take advantage of the convenient e-filing process that TaxBandits offers. Our newly developed features for filing Schedule A are sure to make your filing experience pleasant and stress-free.

Get a Head Start on Schedule A Today!

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What Nonprofits Need To Know About the Form 941 Deadline

Does your tax-exempt organization employ certain individuals to help carry out the mission of your group? If so, as an employer you are required to file Form 941 with the IRS quarterly.

ExpressTaxExempt is here to help your organization grow and flourish so we have gathered some important information regarding what nonprofit organizations need to know about the Form 941 deadline:

What is Form 941 & When is it Due? 

Also known as the Employer’s Quarterly Tax Return, Form 941 is used to report employment taxes quarterly and assists with calculating the employer’s portion of Social Security and Medicare tax.

The first quarter deadline for this year is April 30 and covers the months of January, February, and March.

If you do not file Form 941 by April 30, 2018, your organization could find itself responsible for paying Form 941 Penalties to the IRS. Avoid IRS penalties by e-filing Form 941 with ExpressTaxExempt’s sister product, TaxBandits.

E-File Form 941 Before The Deadline

While most people believe that filing taxes is a headache and takes all day and night to complete, our sister product TaxBandits eliminates that. Filing Form 941 with TaxBandits only requires two major pieces of information: Employer and Employment Details.

Employer Details

• Name of Employer
• Employer Identification Number (EIN)
• Address

Employment Details

• Employee Count
• Medicare Tax & Social Security
• Deposit Made to the IRS
• Tax Liability (Monthly/Semiweekly)
• Signing Authority Information
• Online Signature PIN or Form 8453-EMP

Once you have submitted this information, all that is left to do is review the completed form, pay a small, affordable price per form, and transmit directly to the IRS. Just like that, you have avoided IRS penalties form 941 and compliance issues! 

File With TaxBandits and Stay Tax Compliant with the IRS

There are many components to running your organization and we want to help make handling tax filings one component that you don’t have to be stressed over. 

TaxBandits, a sister product to ExpressTaxExempt, is an industry leader for online tax preparation and tax filings which offers accurate and efficient e-filing at prices that can’t be beaten! Visit their website today to find out more information about Form 941 and the other services that TaxBandits offer.

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Make Sure Your Organization is in The Clear After The Tax Deadline

As the biggest tax day of the year approaches, your initial instinct may be to handle your personal tax filings; but what about your exempt organization?

Your Federal Tax Return is not the only tax form due this tax season. ExpressTaxExempt is here to make sure your organization is in the clear after the tax deadline.

Is My Organization Required To File Form 990?

If your nonprofit or tax-exempt organization operates on a fiscal tax year beginning in December and running until November, you must file one of the following 990 Forms by April 17th:

Form 990-N (e-Postcard): Filed by tax-exempt organizations with gross receipts less than or equal to $50,000.

Form 990-EZ: Filed by tax-exempt organizations with gross receipts that come to less than $200,000 and $500,000 in total assets.

Form 990: Exempt organizations with more than or equal to $200,000 in gross receipts or total assets more than or equal to $500,000 typically file Form 990.

Form 990-PF: Filed by Exempt & Taxable Private Foundations as well as Non-exempt Charitable Trusts which the IRS treats as private foundations.

How To Meet the April 17 Tax Deadline

There is still an adequate amount of time to meet the April 17th tax deadline; especially when you e-file with ExpressTaxExempt!

Our step-by-step tax preparation takes the hassle out of IRS nonprofit filing by providing a simplified interview-style e-filing process.

Our tax software works to keep your organization compliant with the IRS all year long. Plus, when you file your Form 990, 990-N, 990-EZ, or 990-PF with ExpressTaxExempt, upon approval from the IRS, we will instantly send your tax return to GuideStar to be shown on their database with our Express990 feature.

Learn more about how to take advantage of this partnership here.

Need More Time to File? We’ve Got You Covered!

If you have a lot on your plate and need more time to file, ExpressTaxExempt has you covered.

Simply e-file Form 8868 from your ExpressTaxExempt account for an additional 6 months of filing time for your tax-exempt organization. This form must be filed by the original due date of your organization’s 990 filing deadline.

Steps to E-File Extension Form 8868

1. Register or sign in with ExpressTaxExempt
2. Add organization's basic information such as name, EIN, address, and contact number
3. Select the IRS form which you are applying for the extension
4. Enter your organization's tax year period
5. Choose your extension type and provide information for signing authority
6. Review your return and fix any errors
7. Pay and transmit to the IRS

See how simple that is? File with ExpressTaxExempt and forget about IRS penalties and the headache of filing tax forms for hours. Get started today to make sure your organization is in the clear this tax season!

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How To Be A Winner On Deadline Day

This is a guest blog post from our sister product, TaxBandits; another great tax filing solution for nonprofits and small businesses.  

Exempt organizations with a fiscal tax year that ended on October 31, 2017, are required to file a Form 990 by today, March 15.

 
If this deadline applies to you and you just realized that your tax exempt organization’s Form 990 is due today, your heart may have just skipped a beat.  

Before you have a breakdown or panic attack, we have some good news for you!

TaxBandits has the best solution for your last minute tax filing needs.

Being a winner on deadline day is easy when you file with TaxBandits. We’ll show you how to successfully e-file your 990 forms at the last minute like a champ!

If your organization is required to handle 990 e-filing by March 15 and you are running out of time, your best bet is to file your appropriate 990 Form with TaxBandits quickly or simply file Form 8868 for an extension of time to file. 

 
Both forms are due by midnight so let’s make a deal--Form 990 or Extension Form 8868?

Let’s Make A Deal: How To Be A Winner on Deadline Day

Before we reveal the grand prize let’s discuss the difference between both forms to determine the best option for you.

Form 990 Series

There are four variations of Form 990 included in the Form 990 Series. Each form provides information on specific types of exempt organizations:

Form 990

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

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

Form 990-N

Organizations with gross receipts that are less than or equal to $50,000 file this form electronically.

Form 990-PF

Filed by Exempt & Taxable Private Foundations as well as Non-Exempt Charitable Trusts which the IRS treat as private foundations.

Get More Time To File

If you need more time to file Form 990, that’s okay! Wouldn’t it be nice to have more time make sure all your “I’s” were dotted and “T’s” crossed before filing? Well, you’re in luck because you can file Form 8868 for an automatic 6-month extension!

Form 8868 is used by nonprofit groups, charities, and other tax-exempt organizations to get an extension of time to file their federal tax return.

Filing this form with us by your Form 990 deadline will result in a 6-month extension of time to file your Form 990 and avoid IRS penalties.

Late Filing IRS Penalties for Form 990

Failing to file Form 990 or Form 8868 will result in major IRS penalties, depending on the size of your organization.

If your gross receipts are less than $1,000,000 for the tax year, you will be fined $20 per day with a maximum penalty of $10,000 or 5% of your organization’s gross receipts depending on which is amount is greater.

If your gross receipts exceed $1,000,000 the IRS penalty increases to $100 per day with a maximum fee of $50,000.

It’s Game Time...Let’s Make A Deal!

Although tax filing matters are not a game, TaxBandits specializes in offering resources to our users in an enjoyable way to help make tax filing simple and stress-free.

With the help of TaxBandits, you don’t have to worry about missing your Form 990 deadline because of our interview style e-filing process and tax software that will help you complete your federal tax return and instantly transmit it directly to the IRS in no time.

All you have 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. Complete the entire process in 5 simple steps!

Filing Extension Form 8868 is even easier! Before you know it, you will have extra time to file your Form 990 and maintain tax-exempt status. 

And The Winner Is...

GIF via GIPHY

You get a deal...and you get a deal...EVERYBODY GETS A DEAL!!

Luckily, this game is setup for a “win-win.” You can either easily e-file Form 990 today and stay compliant with the IRS or file an extension and get extra time to handle your tax filings. Either way, YOU WIN!

So head on over to TaxBandits and accept your grand prize for the March 15 deadline.

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Filing Just In Time For The March 15 Deadline

The go-to word for this season of life seems to be “deadline!” It seems like every time you turn around there’s a new deadline on the horizon. Well this time around it is the March 15 deadline for applicable exempt organizations who file Form 990.

Tax exempt organizations with a fiscal tax year that ended on October 31, 2017 are required to file a 990 Form by Thursday, March 15th. Yes, that’s this this Thursday!

Before you have a panic attack, ExpressTaxExempt is here to provide you with some last minute filing tips that will help you file just in time for the March 15 deadline.

Filing Just In Time For The March 15 Deadline

Before we go into the useful tips, the first thing you’ll need to do in order to file on time is to create a free ExpressTaxExempt account.

This account will give you access to our easy-to-use e-filing guide where you can instantly complete your Form 990 and transmit it directly to the IRS.

1) Know Your Deadline

If there’s nothing you take away from this blog [besides the fact that you should file with ExpressTaxExempt - Lol!], it’s knowing when your 990 Form is due and how to file it.

An organization that has a calendar tax year operates for 12 consecutive months and ends in December; meaning that their Form 990 is due annually on May 15.

Organizations with a fiscal tax year, meaning it operates for 12 consecutive months but ends in any month besides December, have their Form 990 due five months and 15 days after their tax year ends.

If your fiscal tax year ended in October then your Form 990 is due by March 15th. 

2) Request More Time to File

If you’re in a time crunch just file Form 8868 for an automatic 6-month extension!

Form 8868 is used by nonprofit groups, charities, and other tax-exempt organizations to get an extension of their return. By simply filing this form with us by your original Form 990 deadline you will get an automatic 6-month extension of time to file your Form 990. 

3) Organize Your Information

Although it doesn’t take long to file Form 990 with ExpressTaxExempt, the process is even quicker when you have your information prepared ahead of time.

In order to file you will need your organization details, program services, revenue, expenses, supplemental financial statements, net assets balance sheets, a list of employees, and tax compliance with governance, management, and disclosures.

4) File With ExpressTaxExempt

Forget about spending hours trying to figure out complicated tax forms or paying for an expensive accountant to handle it for you. Just create your free ExpressTaxExempt account and follow our step-by-step e-filing instructions to complete your Form 990 in a matter of minutes.

We’ve taken the time to design a quick and easy e-filing method that eliminates the time-consuming process of having to deal with extra steps. Plus, we provide helpful text along the way to answer all of your questions!

We also offer exclusive e-filing features to simplify the entire process. For example, you can use the bulk upload feature to upload all of your information at once.

Also, our internal audit check will catch any basic mistakes before your Form 990 is transmitted to the IRS. 

Filing just in time for the March 15 deadline is easy when you do it with ExpressTaxExempt. Let us help you this tax season!

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The Best Way To Handle Employee Holiday Requests

This is a guest post by Ariel Black of ACAwise; ACAwise is a full-service ACA reporting and compliance solution for Applicable Large Employers (ALEs) and Third Party Administrators (TPAs).

With Spring Break right around the corner for most students and educators, you may have some employees requesting time off for family vacations or spring getaways.

Let’s be honest, managing holiday requests can be a thorn in management’s side. However, with a little preparation, you will be rewarded with happier employees and fewer disruptions to your team. Learn how to handle employee holiday requests in style before it is too late.

The Best Way To Handle Employee Holiday Requests

Communicating Annual Leave

One of the most common problems with annual leave is finding out how many days your employees are entitled to. This luckily is easy enough. If an employee is salary or works full time, they are entitled to a minimum of 5.6 weeks paid leave.

However, this is not the biggest issue with annual leave. Managers will find in many cases that their employees feel their annual leave is unfair.

Some of these reasons may include:

• Misunderstanding of their entitlements
• Certain roles deserve more than minimum entitlement

Tips and Advice for HR Entitlements:

1. Attractive Holiday Plans

Company-wise your entitlement plans need to be attractive to your employees. For a bare minimum the company must comply with laws and regulations but by offering extras will go a long way with the happiness of your employees.

Consider offering public or bank holidays as extras instead of including them with employee entitlements.

2. Fair Treatment of All

Another way to avoid disgruntled employees is to award entitlement fairly. Everyone should be treated the same, and there should be no favoritism involved when it comes to annual leave. Granting additional benefits to a select group of employees will only lead to disruptions within your team.

Consider increasing entitlement across the board as an alternative that will encourage loyalty among your employees.

3. Increase Understanding

This point can not be stressed enough. Make sure your holiday pay and entitlement program is clearly understood by all of your employees and easily accessed. The worst thing you can do is appear to be hiding something.

The holiday season can be hectic for everyone especially those in management, but when you prepare you can keep your employees focused and productive. Try using these helpful tips and suggestions to help avoid any disruptions within your workforce. Please comment, like, and share this informative blog for those who understand the pains of HR holiday management.

Ariel Black is a Content Marketing Manager for SPAN Enterprises, parent company to ACAwise. ACAwise is an all-in-one ACA reporting solution designed to track and monitor compliance throughout the year for ALEs and TPAs.

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Don't Forget About The February 15 Deadline

The February 15th filing deadline is here!

Hopefully you enjoyed some beautiful flowers, edible arrangements, or received heartfelt cards and gifts yesterday for Valentine's Day.

While the bliss of Valentine's Day lingers, there's a major tax filing deadline for tax exempt organizations that must be handled today.

Don't Let Cupid Make You Forget About the February 15th Tax Deadline

What is a Form 990? 

Form 990 is an informational tax form provided through the IRS that is filed annually by most tax-exempt organizations and used to give the IRS a detailed snapshot of the activities, finances, and governing body of an organization.

There’s even a section on the Form that allows organizations to list its accomplishments over the previous year to justify its continuous need for tax exemption.

The deadline to e-file Form 990 Series varies. 

Your due date is dependent upon the type of tax year in which the organization operates – calendar tax year or fiscal tax year.

Organizations that operate on a calendar tax year (January – December) have an annual filing deadline of May 15.

Fiscal tax year organizations whose tax year consists of 12 consecutive months and ends any month besides December, have a deadline on a different month. 

Does My Organization Need To File Today?

If you’re wondering if your organization needs to file by the February 15th deadline, you need to know this…two types of organizations required to file include:

• Organizations whose fiscal tax year begins on October 1 and ends on September 30 are required to file Form 990 by the February 15th tax deadline, and 
• Organizations with a tax year which ended on March 31 with an original filing date of August 15 but filed a 6 month extension.

Your organization can easily meet the February 15th tax deadline by e-filing

IRS Form 990 with ExpressTaxExempt!

Which Form in the 990 Series Should I File?

There are a few options when it comes to which form to file in the 990 Series.

Let’s be honest here, there’s nothing worse than being stressed out during tax time and not knowing which form to file for your organization.

You don’t want to ask your peers because they may question your capability to file accurately.

And you definitely don’t want the Board of Directors giving you a side eye the next time you meet.

ExpressTaxExempt alleviates the worry and concern of missing the 990 deadline or even filing incorrect information by providing you with all of the tools and forms that you’ll need to file properly.

Here’s everything you need to know about the Form 990 Series:

Form 990-N (e-Postcard)

Form 990-N (e-Postcard) is filed by tax exempt organizations with gross receipts less than or equal to $50,000. 

Form 990-EZ

Tax exempt organizations with gross receipts that come to less than $200,000 and $500,000 in total assets file Form 990-EZ. 

Form 990

Typically filed by tax exempt organizations with more than or equal to $200,000 in gross receipts or total assets more than or equal to $500,000.

Form 990-PF

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

Each of these forms can be completed with the simplified filing process of ExpressTaxBandits. Are you swamped with work and just don't have time to file today? No problem. Just take a few moments to file Extension Form 8868 and receive an automatic filing extension of 6 months to file your return! 

Keep Your Tax Exempt Status Through ExpressTaxExempt

We know of the perfect way to maintain tax exempt status for your organization.

You guessed it...just file with TaxBandits! We offer easy e-filing for 990 Forms so you can quickly file the correct 990 Form for your organization.

Follow the simple step-by-step guide to create your free account, and enter basic information about your organization.

After completing the form interview, review your information and audit report, pay for your form, and transmit it directly to the IRS.

Complete the entire process in 5 simple steps!

We have countless success stories for last minute filing. Don’t hesitate any longer. File today. 

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What Every Nonprofit Needs To Know About Form 1099-MISC

Did you know that as a nonprofit organization, you are responsible for issuing 1099 information forms just like a business? 

It’s true! Nonprofits who have paid $600 or more during the year to a non-employee for services must file and provide a 1099-MISC Form by the January 31 IRS filing deadline. Non-employee payments include fees that are paid to temporary services, consultants, performers, etc.

Helping your organization remain in compliance with the IRS, ExpressTaxExempt has gathered some very informative details regarding Form 1099-MISC that are beneficial to your organization.

 

Everything You Need To Know About Form 1099-MISC

Form 1099-MISC is used to report payments for services performed for a business by people not treated as its employees and includes miscellaneous income such as payments made to subcontractors wages, rental payments, prizes, awards, or substitute payments in lieu of dividends.

When is Form 1099-MISC Due?

You have until January 31 to file Form 1099-MISC and provide a copy to the recipient. Other deadlines for 1099-MISC include:

• Paper file with the IRS by February 28, 2018
• E-file with the IRS by April 2, 2018

What Information Do I Need to Complete Form 1099-MISC?

The following information is required to e-file Form 1099-MISC:

• Payer Details: Name, EIN, and Address
• Recipient Details: Name, EIN/Social Security, and Address
• Federal Details: Miscellaneous Incomes and Federal Tax Withheld
• State Filing Details: State Income, Payer State Number, and State Tax Withheld
• 
  

Where Should I File Form 1099-MISC?

The best way to file Form 1099-MISC is through our sister product, TaxBandits! When you file with TaxBandits, you won’t miss the deadline! They provide all the 1099 tax returns you need online along with step-by-step e-filing instructions so you can instantly complete your returns and transmit them directly to the IRS. 

How Do I File Form 1099-MISC with TaxBandits?

Filing your 1099-MISC Form with TaxBandits is quite simple. Follow these steps and your Form will be completed in no time!

1. Create or sign in to your TaxBandits account
2. Select "Form 1099-MISC"
3. Enter payer details (name, EIN, address)
4. Enter recipient details (name, SSN/EIN, address)
5. Enter federal details for miscellaneous income
6. Enter state information and state taxes withheld for each applicable state
7. Choose for form to be mailed to recipient
8. Review, pay and transmit return directly to the IRS

Can I Make Corrections to My Form After Filing?

If a 1099-MISC Form is rejected due to errors or incorrect information being filed, our service allows you to file a new form correcting the 1099-MISC errors immediately. Simply refile the form and use the provided indicators to make the necessary corrections through our comprehensive software. 

What Happens if I Submit Form 1099-MISC late?

A penalty will be enforced if you fail to file Form 1099-MISC by the filing deadline. Penalties will also be given if you fail to include all required information, if the return contains incorrect information, or if the Form is filed on paper when it is required to be filed electronically.

Penalty amounts range from $30 to $1,500,000 and are based on the size of the organization and the date on which the form is filed.

We’re Here To Help

As always, ExpressTaxExempt is here to help your organization in any way that we can. Contact our U.S. - based support team for any other questions or concerns about filing Form 1099-MISC - we’re available at 704.839.2321, Monday through Friday from 9 a.m. to 6 p.m. EST or send a message at your convenience with support@ExpressTaxExempt.com.

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Final Day to Meet the January 15 Deadline

Can you believe that we’re already halfway through the first month of 2018? Although it seems like we were just watching the ball drop a couple of days ago, January is quickly passing us by and the first Form 990 filing deadline is here!

Does My Organization Need To File Today?

While all exempt organizations must file Form 990 annually, only organizations whose tax year ENDED on August 31 or organizations that had a tax year which ended on February 28/29 with an original filing deadline of July 15 but filed a 6 month extension must file today. 

Typically, Form 990 deadlines fall on the 15th of each month, however, due to the MLK Day holiday being on January 15, filers received an additional 24 hours to submit their Form 990 by Tuesday, January 16.

Which 990 Form Should I File?

The “Golden Question!” Here are the four types of 990 Forms that can be filed. Simply select the form that best matches the financial status of your organization:

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

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

What Happens If I File Form 990 Late?

If you’re required to e-file Form 990-N (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 File For an Extension?

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.

ExpressTaxExempt Is Here To Help!

If your organization is required to file by the January 15/16 deadline, you can quickly complete your Form 990 right now with ExpressTaxExempt! We provide the most hassle-free and simple way to instantly file Form 990 and transmit it directly to the IRS. 

If you need any assistance while filing, just give our US-based team of experts a call. We’re here for you Monday - Friday from 9 AM to 6 PM EST at 704.839.2321. You can also reach us via live chat and through our 24/7 email support at support@ExpressTaxExempt.com and we’ll help however we can!

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Maintain Your Exempt Status with the January 15 Deadline

The New Year has come and many nonprofit organizations have kicked off 2018 with a great start. 

As you begin to carry out the work of your organization to make a difference in the communities you serve, we want to ensure that you’re aware of an upcoming filing deadline that may greatly affect the tax exempt status of your organization. 

Form 990 Deadline

Tax exempt organizations are required to file a 990 Form annually to maintain their tax exempt status with the IRS. 

The deadline to e-file Form 990 Series varies and is dependent upon the calendar or fiscal tax year in which the organization operates. 

Organizations that operate on a calendar tax year (January - December) have an annual filing deadline of May 15. Fiscal tax year organizations whose tax year consists of 12 consecutive months and ends any month besides December, have a deadline on a different month. 

Is My Form Due on the January 15th?

There are two types of organizations that must file by the January 15 deadline:

• Organizations whose tax year ENDED on August 31, or 

• Organizations that had a tax year which ended on February 28/29 with an original filing of July 15 but filed a 6 month extension. 

Due to January 15 being a legal holiday (MLK Day), 990 Forms for organizations can be filed up until Tuesday, January 16. 

Which Form Do I File?

There's nothing worse than being stressed out while filing and not knowing exactly which form to file for your organization. 

ExpressTaxExempt eliminates the worry about missing your Form 990 filing deadline or filing the incorrect form by providing you with all of the tools and forms that you’ll need to file properly. 

Form 990 Series

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. 

Easy Filing with ExpressTaxExempt

ExpressTaxExempt offers 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. 

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

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. You can also reach us 24/7 via email at support@ExpressTaxExempt.com.

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Form 990 December Deadline is Approaching Quickly

Snowflakes are falling, Christmas gift shopping is at an all time high, and holiday parties make the weekends even more enjoyable. It really is beginning to look a lot like Christmas! 

While you’re embracing the many facets of the Holidays, don’t forget about the upcoming Form 990 Series filing deadline on this Friday, December 15. We’d hate for your Christmas to be ruined by costly penalties from the IRS. 

Tax exempt organizations that operate on a fiscal tax year of August 1 to July 31 are required to file one of the following tax returns of the Form 990 Series by December 15th: 

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

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

For more information on what details you will need in order to e-file, click here.

Filing Form 990

Handling tax filings, whether personal or business, can be intimidating and stressful; but not with ExpressTaxExempt. ExpressTaxExempt eliminates the worry about missing your Form 990 filing deadline! With our simple, 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 (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.

Simply follow the quick 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

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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How To Organize Receipts & Records for Tax Filing

With technology gaining new developments, keeping track of receipts and financial transactions for your exempt organization may have become a little easier. Often times you may be given the option to receive your receipt via email or by text message. Although this is convenient, it can become somewhat difficult to keep up with the mixture of printed and digital receipts on top of all of the other paperwork you need when preparing taxes for your organization.

Here’s a few tips on how to get all of your paperwork and that ever-growing box of receipts organized.

Take Inventory

The first step in organizing your paperwork is to assess the types of documents and receipts that you have. Paperwork can be categorized in various ways, including tax filings for previous years; bank or loan accounts or mortgage statements; pay stubs; assets sales receipts of gains/losses (residential property, vehicles, etc.); deduction/expense receipts; insurance; and interest paid/interest deductions (i.e. loan interest).

How Long Should I Keep Receipts?

Don’t you find yourself asking this question a lot? Right before you’re about throw away a receipt you think to yourself, “Hmm...should I keep this just in case?”

The length of time that you keep financial records is based on why you originally needed them. For example, annual tax returns, insurance claims, investments, etc., should be kept beyond tax season. Remember, the ultimate purpose of keeping your records is to have documentation for the IRS.

Audits of tax filings have a statute of limitations that can be extended three years after you’ve filed (or the due date of the tax return), so it is extremely important and beneficial to keep these records for at least three years.

If you do not file with the IRS or they have no reason to believe that a case of fraudulence has occurred, there is no statute of limitation. Because of this, you can keep any relevant tax documentation as long as possible.

NOTES:

• Self-Employed individuals and tax exempt organizations are more likely to be scrutinized and given longer statutes of limitations. If you are self-employed or file for an exempt organization (with employees), keep your filing records for four years.

Organize Your Records

Organization is the key to success here. It’s suggested that you sort financial records and receipts based on how soon you may need them.

Keep up with Active File documents! These include documents that you will actively need in the coming year (i.e. W-2s, expense receipts, etc.). Having these documents in multiple formats, whether it’s printed, scanned, or electronic, is always helpful.

Once you have filed or the tax year has ended, you can safely discard the following documents:

1. Pay stubs 
2. Bank Statements 
3. Receipts (once your taxes have been filed, paper receipts should be shredded)
4. Loan Interest Payments
5. Investment Statements 

Financial records that you do not need in the present moment, but may need to be accessible in an audit, should be kept in a digital format and not in a physical space. Scanned documentation can be stored on your computer or uploaded into a cloud service.

The Easiest Way to File 

Once you’ve organized all of your paperwork, utilize ExpressTaxExempt for your e-filing needs. ExpressTaxExempt eliminates the worry about missing your Form 990 filing deadline! With our simple, 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 (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!

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. You can also reach us 24/7 via email with support@ExpressTaxExempt.com.

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