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May 1, 2018

Everything You Need To Know About Nonprofit Filing


For all of you who are involved in a charitable group, we wish to show our utmost appreciation for what you do by sharing what you need to know about nonprofit tax filing.

All About What You Need To Know About Nonprofit Filing

Each IRS tax deadline has its own laws and regulations, and on top of that, there are several variations of Form 990, the nonprofit annual return. It can be difficult to keep up with all the different rules for your nonprofit on top of running a successful MK business. However, because the nonprofit organization's tax filing deadline is approaching on May 15th now is the perfect time to brush up.



What is a Form 990?

Form 990 is the 501c3 tax return that is generally filed by tax-exempt nonprofit organizations like charities, educational groups, religious organizations, groups against animal cruelty, and more. If you run a tax-exempt nonprofit, you are required to file Form 990, the Return of Organization Exempt From Income Tax Form.

IRS Form 990 gives the IRS an overview of your organization's activities, governance, and detailed financial information for the previous tax year. This form will also include a section for you to outline any accomplishments achieved during the previous year to justify maintaining your organization's tax-exempt status

How Form 990 Encourages Transparency

Also when your nonprofit files IRS Form 990 it becomes public domain which shows transparency and accountability on your part. While it is unfortunate to say, many people do not trust many nonprofit organizations to use their donations appropriately.

In a world of instant news, we are often faced with corruption and scandal surrounding nonprofits. Charities are held to a higher standard and need to encourage transparency. When a potential donor can easily find your nonprofit's information, they are more willing to donate and give. This is why many nonprofits choose to post their filed Form 990 on their website for easy public access. You can also upload your Form 990 to GuideStar.

When you file your IRS Form 990 with our sister product ExpressTaxExempt, they will automatically send your information to GuideStar.


When Is Form 990 Due?

Your nonprofits tax filings are due the 15th day of the 5th month after your organization's fiscal year end. If your nonprofit organization runs on a typical fiscal year, your Form 990 is due May 15th.

Form 990 Due Date:
May 15th, 2018


File Your Nonprofit Tax Returns Online

If you are looking for a nonprofit tax filing solution, we proudly introduce ExpressTaxExempt. Our sister product is an IRS-authorized retailer that is specifically designed for filing and maintain your tax-exempt status. Their e-filing process will walk you through your nonprofit organization's tax filing step-by-step.

Supported Forms - Form 990-N, 990-EZ, 990, 990-PF, 1120-POL, & extension form 8868

Sign-up for a free account and see how easy it is to file your 501c3 tax return!



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