How To Avoid 990 Penalties From The IRS

There’s a Form 990 deadline around the corner [March 15], and we want to help you avoid any Form 990 penalties. Nonprofit team meeting on filing Form 990 with TaxBandits

Tax season is in full swing; so make sure you have your “I’s” dotted and “T’s” crossed. You definitely want to avoid penalties; filing taxes late or missing a major tax filing due date can result in pretty expensive penalties from the IRS. Learn how to avoid Form 990 penalties.

How To Avoid Form 990 Penalties From The IRS

Organizations required to file by March 15 are running out of time! Your best bet is to file Form 990 with TaxBandits or IRS Form 8868 to extend the time to file.

Thinking about just putting off your Form 990 e-filing for a couple more days? Ummm… I wouldn’t do that if I were you!

Late Filing IRS Penalties for Form 990

Failing to file Form 990 or Form 8868 will result in major IRS penalties, depending on the size of your organization.

If your gross receipts are less than $1,000,000 for the tax year, you will be fined $20 per day with a maximum penalty of $10,000 or 5% of your organization’s gross receipts depending on which is amount is greater.

If your gross receipts exceed $1,000,000 the IRS penalty increases to $100 per day with a maximum fee of $50,000.

Is My Organization’s Form 990 Due This Month?

Form 990 deadlines fall on the 5th month and 15th day after your tax year ends.  

Organizations that operate on a fiscal tax year [November 1 – October 31] are required to file by Thursday, March 15.

Form 990 Discussion on Why TaxBandits is the Best Service to File With

File Today With Our Tax Software & Avoid Massive IRS Penalties

If you’re ready to go ahead and knock out your Form 990, e-file with TaxBandits, the perfect tax software that helps you every step of the way!

All you have to do is create or log in to your free account. Follow the simple interview style guide to complete your form online in a matter of minutes. Let TaxBandits help you avoid potential IRS Form 990 penalties today. Click through the Form 990 resources below to learn more. 

TaxBandits Form 990 Resources:

  1. What Every Nonprofit Needs To Know About IRS Compliance
  2. Avoid Nonprofit IRS Penalties with These Tips
  3. Last Minute Form 990 Filing Tips

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