The Form 990 Deadline is Approaching on May 17, 2021

A guide to the 990 series.

It’s time to talk about tax exempt organizations! The new year has come and gone and spring is turning to summer, which means there is a big Form 990 deadline coming up. Whether you are a director of a tax exempt organization, a tax professional filing on their behalf, or just a donor, you realize that these organizations make huge contributions to our communities. 

To keep their organizations serving the public, tax exempt organizations must maintain their IRS compliance with the IRS. Those that fail to do so are at risk of losing their tax exempt status. 

TaxBandits is bringing you the basics you need to know before e-filing your tax exempt tax return this year. 

Did you know that our sister product ExpressTaxExempt provides industry leading Form 990 e-filing? Much like TaxBandits, ExpressTaxExempt offers an excellent support team that you can reach out to for assistance!

When is the Form 990 Deadline? 

The deadline for tax exempt organizations to file their 990 Series tax return is the 15th day of the 5th month following the close of their tax year. For organizations operating on a calendar year, this is May 17, 2021. 

Which forms are included in the 990 Series?

The following forms are included in the 990 series and are available for e-filing through ExpressTaxExempt. 

Form 990-N

Also called the 990 e-postcard, this is the shortest of the 990 forms. This form is reserved for the smallest organizations, reporting $50,000 or less in gross receipts. 

Form 990-EZ

This is another of the shorter versions of Form 990-EZ. It is filed by slightly larger organizations with gross receipts between $50,000 and $200,000.

Form 990

This is the standard form for tax exempt organizations that have gross receipts totaling $200,000 or more. 

Form 990-PF

This is another long form, this is filed specifically by private foundations of all sizes. 

Can Tax-Exempt Organizations extend their Deadline? 

For the most part, the answer to this question is yes. The exception to this rule is the Form 990-N, this short form can not be extended. 

All other tax exempt organizations can request an extension for additional time to file using the Form 8868. This extension allows organizations to extend their deadline to file Forms 990 for up to 6 months. ExpressTaxExempt supports this form as well. 

Add a Comment

Your email address will not be published. Required fields are marked *