Everything You Need To Meet the June 15th Deadline 🙌🏾

This is a guest post from TaxBandits, an Authorized IRS e-file solution designed to handle the needs of tax-exempt organizations and small businesses.

Can you believe it has almost been a month since the big nonprofit tax return Form 990 deadline on May 15! This was the nonprofit tax return deadline for those nonprofits who operate on a typical calendar tax year.  However, if your organization operates on a fiscal tax year starting in February your IRS Form 990 is due June 15th! Hint hint; nudge nudge; that is THIS Friday. 😧  

So to help those of you still needing to file, we wanted to share everything you need to meet the June 15th deadline. 

Everything You Need To Meet The June 15th Deadline 

What is Form 990?

IRS Form 990 is the annual financial and informational return filed by all tax-exempt nonprofit and charitable organizations. Your organization's type and financial situation will decide which nonprofit tax return Form 990 you will file.

There are four types of 990 Forms in the Form 990 Series. Select and e-file the appropriate nonprofit tax return Form 990 based on the following requirements:

Form 990-N (e-Postcard) - For organizations reporting gross receipts less than $50,000

Form 990-EZ (Short Form) - For organizations reporting gross receipts less than $200,000 and total assets less than $500,000

Form 990 (Long Form) - For organizations reporting gross receipts equal to or greater than $200,000 and total assets equal to or greater than $500,000

Form 990-PF - For organizations identifying as an exempt private foundation, taxable private foundation, or a nonexempt charitable trust treated as a private foundation.

Preparing For The June 15 Deadline

Have Necessary Documents on Hand

Before filing your organization’s 990 Form, make sure you have located and organized all your required information. Trust me, being organized will make this process so much easier and less time-consuming.

Depending on which Form 990 you are required to file, you may have to report various details such as revenue and expense amounts, program services, a list of employees, financial statements, governance and more.

Know What Information You Need

Well since we’re on the topic of required information let’s go ahead to get to it. Here’s what you will need when you file your 990 Form with TaxBandits:

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 organizations

The Comprehensive Guide To Filing Form 990

Now that you know how to prepare your IRS Form 990 you can easily file with the help of TaxBandits. We support your organization by providing a simplified, interview style filing process, automatic schedules and worksheets, retransmit rejected returns for free, support prior year filing and more!

Be sure to check out The Comprehensive Guide To Filing A 990 Tax Form For Your Nonprofit; a great resource which gives you everything you need to know about IRS Form 990 and how to file it!

File IRS Form 990 Online

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How To E-file Your Form 990 On The Go

Nonprofit and tax-exempt organizations worldwide are required to file an annual information return each year to report the financial status and actions of the organization to the IRS. E-filing a 990 Form on your own can be difficult and time consuming if you’re paper filing, but luckily for you, ExpressTaxExempt makes the process as easy as possible.

ExpressTaxExempt offers an easy and secure way to transmit 990 forms quicker than ever. And here’s the fun part, you can get your filing done within minutes, especially Form 990-N, without being near a desk or computer!

Organizations with a fiscal tax year that ended on November 30, 2017 are required to file a 990 Form by April 17th.

Here are two ways you can e-file your Form 990 from your smartphone by the upcoming April 17th deadline: 

Form 990-N Mobile App

Did your organization have less than $50,000 in gross receipts for the 2017 tax year? The FREE ExpressTaxExempt - Form 990-N app allows small tax-exempt organizations to e-file their 990-N (e-Postcard) Form directly from an iOS or Android mobile device.

The entire filing process can be completed anywhere at any time; the only information needed is basic organization details, tax year period, and confirmation of total revenue less than $50,000.

Prior to transmitting to the IRS, your e-Postcard is automatically checked to ensure each question was answered correctly. Once the IRS approves your filing, you will receive a confirmation directly to your email. If your return is rejected for any reason, the 990-N mobile app will inform you of what information needs to be corrected and allows you to resend your form without any extra cost.

Form 8868 Mobile App

If your nonprofit or charity has gross receipts over $50,000, and you need extra time to file your 2017 Form 990, 990-EZ, or 990-PF, you can download the FREE ExpressTaxExempt - Form 8868 and conveniently file a tax extension using your iOS or Android handset.

E-filing only takes minutes to complete, and all you need is your organization’s basic details, tax year period, and select the annual tax return you typically file with the IRS. You can also enter any estimated tax liabilities if necessary. Your tax-exempt extension form gets checked for any mistakes before transmitting, and you’ll receive a PDF copy of the extension after sending it.

Let ExpressTaxExempt Help You Meet The April 17th Deadline

Forget about missing the April 17th Tax Day deadline when you file with ExpressTaxExempt. 

Whether it’s transmitting your form to IRS by the deadline or quickly applying for a tax extension, ExpressTaxExempt has you covered! 

You Help Others, Let Us Help You!

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Is My 990 Information Return Due on September 15th?

Does your organization operate on a fiscal tax year instead of a calendar tax year? Are you unsure of what the difference is between the two? Well let’s find out right now!

If your organization operates from January 1 to December 31 it is considered to have a calendar tax year with a standard tax filing deadline each year. Organizations that function for 12 consecutive months but end on any month besides December are operated as a fiscal tax year. 

Tax exempt organizations that operate on a fiscal tax year and function from May 1 to April 30 have a tax filing deadline this Friday, September 15th to file their 990 Information Returns. 

Form 990 is considered to be the Return of Organization Exempt From Income Tax form which many tax exempt organizations such as religious groups, educational groups, charities, and other nonprofit groups are required to file each year to provide the public with financial information about their organization. 

Forms included in the Form 990 Series are Form 990, 990-EZ, 990-PF, and 990-N. Form 1120-POL, the newest ExpressTaxExempt tax form, is specifically designed for political organization tax filing. The appropriate form that your organization should file will be dependent upon the amount of gross receipts that it accumulates throughout its accounting period (tax year). 

To find out which tax form your organization should e-file, click here.

Is your nonprofit's tax return due tomorrow (September 15)?

 

GIF via GIPHY

No need to worry or stress out! Our user-friendly tax filing software makes your e-filing experience very simple and easy to complete. Simply go to ExpressTaxExempt to begin filing or if you need some extra time to gather all of your information, quickly file a Form 8868 for a Form 990 Extension to avoid penalties and receive an additional 6 months of filing time for your tax exempt organization. 

Operating your nonprofit organization without tax-exempt status can be extremely challenging and quite difficult. Eliminate the worry and concern of losing your tax status or even regain tax-exempt status by filing your Form 990 series returns with us at ExpressTaxExempt. With affordable pricing and a safe, secure and easy-to-use e-filing system, organizations can quickly and accurately file their forms directly to the IRS. Need help during the filing process? No worries. We’re always here to help! Feel free to contact our support team of e-file experts at 704.839.2321 for any questions or help with the e-filing experience. We’re here to assist you Monday through Friday from 9 a.m. to 6 p.m. EST or feel free to reach us 24/7 via email at support@ExpressTaxExempt.com.

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Don't Miss Your Filing Deadline: Keep Your Tax-Exempt Status

Form 990-N e-filers and nonprofit organization leaders, don't miss an important upcoming deadline for tax exempt organizations. Organizations that operate on a fiscal tax year may need to file their return by Monday in order to keep their current tax exempt status. 

Form 990-N is due every year by the 15th day of the 5th month after the close of your tax year. For those that have a fiscal year that ended in February or March, your filing deadline is right around the corner: 

-February 28/29 (Fiscal Tax Year End Date) -- Due on Monday, July 17 (July 15 falls on a weekend) 

-March 31 (Fiscal Tax Year End Date) -- Due on Tuesday, August 15

-Click Here to file your organization's Form 990-N (e-Postcard) 

Filing Form 990-N (e-Postcard) is extremely easy and can be completed in three simple steps with ExpressTaxExempt:  

1. -Search Organization's EIN
• Enter your Employer Identification Number (EIN) to view filing history and e-file your Form 990-N to the IRS. 
2. -Select Filing Year
• Choose the available tax year from your filing history list to e-file and create an account to review your filing details. You can also update any of your organization information if necessary. 
3. -Review & Transmit to the IRS
• Complete payment information and transmit your e-Postcard to the IRS instantly. You can review your payment receipt or summary of your e-Postcard once you transmit your return. 

Although there is no penalty for filing Form 990-N late, organizations that fail to file for three consecutive years will automatically lose their tax-exempt status. If things are hectic for you right now, no need to worry. You can simply file an extension with ExpressExtension and receive an extra 6 months to file. 

Take advantage of our useful Fiscal Tax Year Filing Calendar chart below to find out when your Form 990-N is due: 

Tax Year Begin Date	Tax Year End Date	Form 990 Deadline
January 1	December 31	May 15
February 1	January 31	June 15
March 1	February 28/29	July 15
April 1	March 31	August 15
May 1	April 30	September 15
June 1	May 31	October 15
July 1	June 30	November 15
August 1	July 31	December 15
September 1	August 31	January 15
October 1	September 30	February 15
November 1	October 31	March 15
December 1	November 30	April 15

As always, 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 here to assist you Monday through Friday from 9 a.m. to 6 p.m. EST or feel free to reach us 24/7 via email at support@ExpressTaxExempt.com.

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New Leadership? No Problem: Organizational Leadership Transition Tips

As we ease into the month of July, some organizations are embracing [or planning to elect] new leadership to continue carrying out the work of their group. Good leaders strive to leave their organization in good standing and provide future leaders with ample information to ensure a smooth transition. While some organizations in this predicament may have a transition method in place to train new leaders, there are others that may need or want to implement some useful strategies to ensure the core leadership of their group remains solid.

Major things such as annual tax filing due dates, record keeping, or maintaining tax-exempt status cannot afford to “fall by the wayside” during each transition of leadership.

At ExpressTaxExempt, we realize that your mission is to help others, so now, let us help you! Here are some leadership transition tips that could be beneficial to your organization:

TRANSITION CHECKLIST

Get Organized - Prior to new leaders beginning their term, try your best to make sure things are organized so that leaders can focus on their duties without having to go against any unnecessary roadblocks.

Leadership Transition Binder - A great tool and gift to incoming leaders is to provide them with a binder that has all of the documents they need to be successful in their new leadership role. They will reference these items throughout their tenure, so make sure they are detailed and organized.

• *Each binder should have general “must-haves” like the organization’s bylaws, calendar of events, etc., as well as specific documents that would be helpful to the individual and their position. For example, the organization’s treasurer or director of finance should receive information like previous financial records, state tax forms/info, tax filing information (EIN/Tax ID#, bank account information, pending significant financial transactions, fundraising information) and more.

-Discuss Organization’s Policies & Procedures

-Set realistic goals and objectives for the year
-Go over each leader’s duties in detail. Explain what they are and are not responsible for.  
-Inform New Leaders of Key External Relationships

• *For leadership roles that require working relationships with other leaders outside of the organization, a Contact Sheet should be provided with contact information (name, title, email address, phone number) for each individual. 

With these useful tools and tips, your leadership team should be on the road to success as they continue to carry out the great work that your organization does from day to day. Be sure to keep your tax-exempt status by annually filing with ExpressTaxExempt. Unsure of your filing deadline? We have a Fiscal Tax Year Filing Calendar available for you to take advantage of. Enjoy your summer and feel free to comment with any other leadership transition tips and we’ll add them in!

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Filing Form 990 with a Fiscal Tax Year

Earlier this month, we had a pretty big deadline for tax-exempt organizations required to file some version of Form 990. Whether you file the original long form, Form 990-EZ, Form 990-N, or Form 990-PF, if you operate on a calendar year tax year, your 2016 return was due to the IRS May 15th of this year.

Now, if you missed the deadline, don’t freak out: you can still file your return with the IRS and the sooner you do, the better.

But what about those folks who don’t follow a calendar year tax year? Whose tax year maybe starts each June 1st and ends each May 31st? Or starts September 1st and ends August 31st? Or any other combination of 365-day cycles?

These organizations have what we call a “fiscal tax year,” because their tax year has been determined for fiscal reasons rather than simply to follow the calendar year. For instance, many school-related tax-exempt organizations will follow an August to July fiscal tax year since the school year generally starts sometime in August. Other organizations may also find it simpler for tax purposes to have their tax year start the same month that the organization was founded.

The IRS is able to allow for this kind of flexibility when it comes to tax-exempt return deadlines. After all, the official deadline for tax-exempt organizations isn’t May 15th, but rather the fifteenth day of the fifth month following the organization’s tax year end date. And so long as your organization’s founding documents on file with the IRS have your fiscal tax year listed, the IRS won’t consider you having filed incorrectly or late for filing on a deadline other than May 15th.

So, if you know your organization operates on a fiscal tax year, but are unsure of your deadline, we can help with that! Just find your tax year on this chart to confirm your Form 990 due date:

Tax Year Begin Date	Tax Year End Date	Form 990 Deadline
January 1	December 31	May 15
February 1	January 31	June 15
March 1	February 28/29	July 15
April 1	March 31	August 15
May 1	April 30	September 15
June 1	May 31	October 15
July 1	June 30	November 15
August 1	July 31	December 15
September 1	August 31	January 15
October 1	September 30	February 15
November 1	October 31	March 15
December 1	November 30	April 15

With ExpressTaxExempt, you can e-file your Form 990 all throughout the year, no matter when your deadline is. Just as you begin your form in the program, we’ll ask you for some organization details, including your tax year to help make sure you’re filing on time. Of course, if you have any questions along the way, you can also get in touch with our all-star support team. Just give us a call or send us a live chat or email and we’ll be happy to help!

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