Upcoming Form 990 & Form 990-EZ Deadline: Is It My Time to File?

If your organization operates on a fiscal tax year and files Form 990 or Form 990-EZ, you may have a tax return deadline coming up soon. Organizations that function fiscally from April 1 to March 31 should e-file their Form 990/990-EZ by the upcoming August 15th due date. Additionally, any organization that filed an extension in February 2017 (fiscal year of October 1 - September 30) must file by August 15th as well.

Not sure what the difference is between Form 990 and 990-EZ or if your organization should file either one? Here’s some information on both forms that might be beneficial to you:

Most organizations exempt from income tax must file an annual information return, which is commonly known as a Form 990 or Form 990-EZ. Form 990 is typically filed by organizations with gross receipts that are more than or equal to $200,000 in gross receipts or total assets more than or equal to $500,000. Form 990-EZ is for very similar but for organizations that have less than $200,000 in gross receipts and $500,000 in total assets.

NOTE: Gross receipts are the total amounts the organization received from all sources during its annual accounting period.

Groups and organizations that usually file Form 990 or 990-EZ include: hospitals, schools, churches, charities, sports clubs, parent teachers associations, public libraries and facilities, cultural organizations and associations, employee associations, Veterans of Foreign Wars, and more.

Organizations that fail to file either form by its due date will incur a penalty against the organization. A penalty of $20 a day, not to exceed the lesser of $10,000 or 5% of the gross receipts of the organization for the year can be charged unless it can be shown the organization filed late due to a reasonable cause. Organizations with annual gross receipts exceeding $1,000,000 are subject to a penalty of $100 for each day with a maximum of $51,000 for any one return.

Organizations worldwide can easily stay in compliance and good standing with the IRS by filing online annually with ExpressTaxExempt. As the #1 authorized IRS e-file provider, we provide all users with our recently reduced filing rates, 100% US-based customer support service, and simplistic e-filing process which allow each organization to e-file IRS Form 990 & 990-EZ securely with the IRS.

We encourage you to contact us via phone at 704.839.2321 on Monday through Friday from 9 a.m. to 6 p.m. EST or reach out to us 24/7 via email at support@ExpressTaxExempt.com if you have any questions about the e-filing process.

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Tales from the Nonprofit

There’s nothing better than a good story - except maybe food and a good story. But even without the food, a story has it’s own worth. A great story can stir emotions, create a call to action, or simply entertain. For nonprofits and charities, a story can inspire to give. Of course we don’t mean just any story, but a story of the work done by your organization that has influenced or helped others within the community.

As much work as your organization accomplishes, there’s probably a story or fascinating experience for every staff member or volunteer. Ironically, the most challenging part of sharing these stories is first finding them. Here are some ways to boost your organization’s storytelling to share with donors.

Be Specific

• You need to know exactly what kind of story you’re looking to share from your programs - broadly asking for any story will give you just that. And your staff member or volunteer may have numerous unique experiences within the nonprofit per day. Help them select the best choice by requesting for a specific story.

Stories at Staff Meetings

• Can’t make rounds to everyone? Take a few minutes during regular staff meetings and ask your members to share a special, impressionable, or surprising moment from the previous week. The entire story doesn’t have to be told at that very moment - just a minute or two. You can meet up with the member later to gather details. This will allow you to get great stories straight from the source rather than spending the day randomly going from person to person.

Strategic Listening

• Another way to find great stories is to simply listen to what is going on around you. And no, we don’t mean eavesdropping, or what we affectionately refer to in our office as “ear hustling,” but instead to pay close attention to the many conversations you have with your staff and volunteers each day. Listen well and strategically ask questions that reveal further information.

Story Submission

• Maybe the problem isn’t coming up with stories, but rather what to do with them. With so much to do, your staff can’t possibly drop everything to express a worthy experience. A paper or online form can allow anyone to quickly submit their story. You can find online resources about creating forms.

Show Them the Way

• A great way to get others to openly express themselves is for you to openly express yourself. Share your own stories of the donors you speak with, the people you’ve helped, or any thoughtful, impressionable moments. Not only does it add value to the relationships of those working around you, but it also establishes connections to those who graciously fund your programs.

Getting your organization’s message and efforts known by the masses is a team effort, but sharing more stories can lead to more donations, allowing you to make even more of an impact in our world.

So while your nonprofit or charity is out changing the world, let us help you with our tax-exempt returns and extension forms made easy. With ExpressTaxExempt, you can e-file your 990 forms and extensions faster and more accurately than with paper filing. With our easy, online interview process, we lead you from start to finish with helpful prompts and step-by-step instructions to e-file your annual tax-exempt return.

Link up with our live support team in Rock Hill, South Carolina, for questions or further assistance. We’re available Monday through Friday from 9 a.m. to 6 p.m. EST at (704) 839-2321. Or contact us 24/7 at support@expresstaxexempt.com.

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ExpressTaxExempt - #1 for Tax-Exempt 990 Forms

The new year brings in new beginnings, and in the wonderful world of taxes, a brand new calendar tax year along with a new set of deadlines. Unlike other tax due dates that happen relatively early in the year, nonprofits, charities, and other exempt organizations have a bit of breathing room. 

But don’t slack - the May 15 deadline can quickly creep up on you. Whether you’re a certified public accountant (CPA) filing for multiple organizations, or a lone, primary officer responsible for your exemption status, ExpressTaxExempt is your #1 online solution for everything tax-exempt and supports all the forms you need.

Form 990-N (e-Postcard)
Who is Eligible to File: You must e-file a Form 990-N (e-Postcard) if your organization typically has gross receipts of less than $50,000 per year. The exception to the rule only applies to organizations that are in group returns; churches and their integrated auxiliaries, conventions, or associations of churches, or organizations that need to file a different return.

About the Form: The Form 990-N (e-Postcard) has to be done online - there’s no paper form. There also aren’t any schedules to complete, and you can’t file an extension for it. You’ll need the required eight pieces of information to successfully e-file Form 990-N (e-Postcard):

• Employer Identification Number (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
• A Statement That The Organization Is Going Out Of Business, if applicable

E-filing with ExpressTaxExempt: You can e-file your Form 990-N (e-Postcard) for FREE for the current 2015 tax year, and you can also e-file for 2014 and 2013 for $9.90 per return!

Form 990-EZ
Who is Eligible to File: A Form 990-EZ is required from organizations with gross receipts over $50,000, but less $200,000 and total assets less than $500,000.

About the Form: The essential part of the Form 990-EZ lies within its Schedules. Each Schedule is meant to provide the IRS with information regarding specific activities within your exempt organization. You may not have to file every Schedule for your organization.

E-filing with ExpressTaxExempt: You can e-file your Form 990-EZ for the current 2015 tax year, 2014, and 2013 starting at $99.95 per return!

Form 990 (Long)
Who is Eligible to File: Filing a Form 990 (Long) means that your organization has gross receipts that are greater than $200,000 and total assets greater than $500,000.

About the Form: Much like the Form 990-EZ, the bulk of Form 990 (Long) also comes from the number of Schedules that need to be filed along with it. Each exempt organization is unique, and you might not have to file as many Schedules as the next one.

E-filing with ExpressTaxExempt: You can e-file your Form 990 (Long) for the current 2015 tax year and also for the 2014 tax year starting at $299.95 per return!

Extension Form 8868
Who is Eligible to File: If you need to extend the deadline for filing either a Form 990 (Long) or Form 990-EZ, you can e-file a Form 8868, Application for Extension of Time to File an Exempt Organization Return.

About the Form: Extension Form 8868 is broken down into two parts. With Part I, you can e-file for an automatic 3-month extension, and with Part II, you can e-file for an additional, non-automatic 3-month extension.

E-filing with ExpressTaxExempt: You can e-file your Extension Form 8868 for the current 2015 tax year and the 2014 tax year for $14.95 per return!

Form 1023 (Coming Soon)
About the Form: The section 501(c)(3) application, known as Form 1023, is needed from any organization that is applying for exempt recognition from federal income tax. Once your organization is approved, you’ll receive a written confirmation of your tax-exempt status from the IRS.

E-filing with ExpressTaxExempt: You can use our highly-rated features to fully complete a Form 1023. Once you are done, you can download your completed form directly to your computer, print it out, and mail it to the IRS.

For your exempt tax returns, no matter if you operate on a calendar or fiscal tax year, your tax deadline will always be on the 15th day of 5th month after your tax end date with the option to extend if you choose to. And with ExpressTaxExempt, you can re-transmit any rejected forms at no extra charge.

We pride ourselves on how easy we’ve made e-filing for exempt organizations, but we understand that taxes are no sweet stroll in the park. So if you have any questions or need some assistance, our helpful, friendly live support team in Rock Hill, South Carolina is ready to assist you with your e-file experience. Feel free to call us at (704) 839-2321, Monday through Friday from 9 a.m. to 6 p.m. EST, or send us an email 24/7 at support@expresstaxexempt.com.

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A Nonprofit New Year

It’s the start of a brand new year, and you probably have a laundry list of goals that you want to get completed, some policies you might want to change, and things that will make your nonprofit more efficient. With all the resolutions and changes you want to implement this year, the most important one is so far beyond your radar it’ll sound appalling when you first hear, but perfect once you understand it.

*trumpet fanfare* 2016 New Year’s Resolution: Do Less

You read that correct - absolutely!

Now we’re not talking about becoming lethargic (as if anyone in the nonprofit community knows of being lethargic) - to “do less” means to focus only on the most important tasks. Scratch off anything that comes across small in the grand scheme of things - a trivial meeting, a less-than-stellar grant, or a minimal event.

You may have a great idea for an event or something, or your whole staff has no problem coming up with ideas to raise money. But when the execution of these ideas falls flat, we claim lack of money, resources, or time when actually it’s the fact that everyone was spread out too thin.

If each person on your staff focused their time, energy, and resources towards the most essential things your nonprofit needs, you’ll find that the efficient means are there - just maybe not enough for an extra fundraiser, grant proposal, or a team pow-wow.

Sacrifice is the name of the game, but it can yield some amazing results. Anything that is last-minute shouldn’t even remain on your scope because if it was something essential to the life of the nonprofit, it wouldn’t be a last-minute thing to get done.

With so much to do, how can I do less?
Let’s take fundraising, for example. Every month, or however often, your organization attempts to bring in donations by having an event. As soon as one is done, resources are channeled towards the next one. Instead, let’s invest a significant amount of effort towards properly thanking those who have donated before. Why? To have them donate regularly, thus having to fundraise less.

Do you find yourself trying to score every grant that shows up? You can either put in the sufficient effort towards one large grant, or aim for many small grants that don’t require much effort, but can add up closely to a large grant.

Be progressive. You don’t have to drop many things at once. Start with just one thing to completely stop doing, and as time goes on, drop another thing if possible. “Less is more,” as the saying goes, and by focusing on the “major” goals instead of “every” goal, you’ll notice your nonprofit accomplish more of the work that matters most.

And speaking of work that matters most, don’t let yourself get too tied up filing your tax-exempt returns. Let ExpressTaxExempt help you with our exempt forms made easy. We support Form 990-N (e-Postcard), Form 990-EZ, and Form 990 (Long), which you can e-file quicker, easier, and with far less mistakes than paper filing.

Our live support professionals in Rock Hill, South Carolina are on stand-by to lend assistance at any point of your e-filing experience. For questions, concerns, or further help, give us a call at (704) 839-2321, Monday through Friday from 9 a.m. to 6 p.m. EST. We also accept emails at any time of the day with our 24/7 email support at support@expresstaxexempt.com.

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