What You Need To Meet the Form 990 Due Date 2019

Filing a 990 tax form for your nonprofit is much easier when you have everything you need at your fingertips.

Non profit organization leader using the comprehensive guide to filing Form 990

To help you take your time back, I’ve gone through the extensive Form 990 instructions and filing process to provide you with what you need to meet the Form 990 due date 2019

What You Need To Meet the Form 990 Due Date 2019

What is Form 990?

IRS Form 990, annual Return of Organization Exempt From Income Tax, is the annual financial and informational return filed by all tax-exempt nonprofit and charitable organizations.

The Internal Revenue Service (IRS) uses Form 990 as their primary tool for gathering needed information about your organization and ensuring your compliance.

990 tax forms are also used by organizations to inform the public about financial information and programs.

Most states use Form 990s to perform charitable and regulatory oversight and to approve exemptions for state income tax.

When is Form 990 Due?

Form 990 must be filed by the fifteenth day of the fifth month following the organization’s tax year-end date. The standard deadline for calendar tax year organizations [January – December] is May 15th.

Note: Organizations that request a 6-month extension of time to file IRS Form 990 for the May 15th deadline must file by November 15. 

Which 990 Tax Form Do I File?

The Form 990 Series consists of four 990 tax forms that can be filed for your organization based on annual total gross receipts and/or assets collected.

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

What Should I Do Before Filing?

Preparation is key to successful Form 990 filing; especially when filing under a time crunch. The best tip we can give you is to gather and organize necessary documents prior to filing your Form 990.

Before filing your organization’s 990 Form, take the time to gather all your required information. If you are not organized, you will find yourself wasting countless hours searching for financial information; which is never fun.

Depending on the 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.

Form 990 Filing Checklist

Information Required To File 990-N (e-Postcard)

  • EIN
  • Legal Name
  • Fiscal year period
  • Principal Officer
  • Current Address
  • Gross Receipts under $50,000
  • Link: epostcard.taxbandits.com

Information Required to File 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

Form 990 Penalties

If you thought about skipping tomorrow’s deadline I’d suggest you dust off that piggy bank and crack it open because you will need more than a few coins to pay these hefty IRS penalties.

There is a penalty of $20 a day if you fail-to-file your nonprofit 990 tax form. Organizations with annual gross receipts exceeding $1 million are subject to a penalty of $100 for each day failure continues (with a maximum penalty for any one return of $50,000).

How Can I Get More Time To File?

IRS Form 990 filers can receive an additional six months time to file for their exempt organization with tax extension Form 8868.

E-filing for an extension of time to file is as easy as creating an account with TaxBandits and starting the Form 8868. The Form 8868 is an application for an extension of time to file your Form 990 (except the 990-N).

Note: This is not an extension of time to pay any taxes that may be due.

Exempt organizations can get extra time to file with IRS Form 8868 using TaxBandits

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