People trying to squeeze in the last of their summer vacations are not the only ones under a deadline; nonprofits feeling the heat to remain exempt need to file a tax exempt form in order to stay compliant with the IRS. Completing non-profit tax returns aren’t as difficult as you may think, especially when you file 990 online using an IRS-authorized e-file provider. Today, we will cover how to complete your tax exempt form by the August 15 deadline using TaxBandits.
How To Complete Your Tax Exempt Form by the August 15 Deadline
If your tax-exempt organization operates on a fiscal tax year that begins on April 1 and ends on March 31, you must file Form 990 by the upcoming August 15 deadline.
Furthermore, exempt organizations whose 990 Form was due in September, but who filed Extension Form 8868 to get an additional six months, are required to file tax-exempt Form 990 by this date as well.
Now that you are clear on who needs to file and when, let’s make sure you have what’s needed to complete your tax exempt form by the August 15 deadline.
Which Form 990 Does My Organization Need to File?
You’d be surprised at how many nonprofit organizations file the wrong IRS Form 990 each year. We don’t want you to be in this boat, so here are non-profit tax returns that are included in the Form 990 Series. Simply select the appropriate return that fits the financial status of your nonprofit:
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.
Need More Time? Just File Extension Form 8868
We understand that you have so many other things to worry about, or that you might want to take advantage of the summertime perks while they last. Don’t let this deadline loom over you; if you need more time to file Form 990, just file Extension Form 8868! It takes only a minute or two to file this form by your original Form 990 deadline to instantly receive an extra six months to file 990 online.
Note: You are only allowed one extension. If you already filed a Form 8868 you will still need to file your tax exempt form by August 15.
However, if you’re ready to file now then all you have to do is know what information you need to file and create your free TaxBandits account to get started. Then you can follow the easy step-by-step e-filing guide to complete your form in a matter of minutes.
Meet The August 15 Deadline
TaxBandits support tax-exempt 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.