The Best Advice for Nonprofits on Tax Day

Tax Day 2018 has officially arrived! Your initial instinct may be to focus on your personal income tax return, but your organization may need to also submit a return to the IRS by midnight.

If your nonprofit or tax-exempt organization operates on a fiscal tax year beginning in December and running until November, you must file a 990 Form by TODAY, April 17th, Tax Day.

Today is the last day to file taxes 2018 for your nonprofit organization.

If this deadline caught you off guard, here's the best advice for nonprofits on Tax Day.

Advice for Nonprofits on Tax Day

The most recognized and discussed tax day of the year is today, April 17th. As a leader of a tax-exempt organization, here is what you need to know about the Form 990 series as well as tax extension Form 8868.

Form 990 Series

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. 

Tax Extension Form 8868 Due Date

Need more time to file your IRS Form 990? Using IRS Form 8868, your organization will automatically get 6 months to file Form 990. To avoid penalties, you will need to file by midnight TONIGHT! That’s right, Form 8868 is due today, April 17th, 2018. If you file after Tax Day 2018, your IRS extension form will be rejected.

Steps To E-file IRS 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 tax extension
4. Enter your organization's tax year period
5. Choose your tax extension type and provide information for signing authority
6. Review your return and fix any errors
7. Pay and transmit to the IRS

To make Tax Day even better for your nonprofit, you should take advantage of a personal income tax extension using TaxBandits. Extension Form 4868 is used by individual or joint taxpayers to receive an automatic extension of up to 6 months to file their returns. TaxBandits also handles Form 990 Series tax filing so you can complete both forms from one account. 

It takes just a few minutes to apply for an income tax extension using TaxBandits. Sign-up for a free account today. 

File Tax Extension Form 8868 Today!

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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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