Nonprofit Tax Returns: Which Forms to File, and When

Most tax-exempt organizations are required to file an annual nonprofit tax return with the IRS. Which form you file typically depends upon your financial activity, as indicated below.

Following are some general guidelines for determining which tax form to file with the IRS:

• Form 990-N e-Postcard — Gross receipts normally ≤ $50,000 | IRS 990-N Info
• Form 990-EZ (or 990) — Gross receipts < $200,000, and Total assets < $500,000 | IRS 990-EZ Info
• Form 990 — Gross receipts ≥ $200,000 or Total Assets ≥ $500,000 | IRS Form 990 Info
• Form 990-PF — Private foundation (regardless of financial status) | IRS Form 990-PF Info

There are some exceptions and the thresholds are subject to change every year. Speak with a tax specialist at the IRS if you’re unsure: (877) 829-5500.

When do You File a Nonprofit Tax Return?

The due date for filing is the 15th day of the 5th month after the close of your tax year. In case of that falling on a Saturday, Sunday or government holiday, it is due the next business day.

But you can’t file too early. If your organization uses a calendar year (January through December), it must wait until January 1 or after to file. If your organization runs on a fiscal year (i.e. October though September), it must wait until October 1st after the year is complete to file.

**Most MoneyMinder customers have a July 1st financial year start, so their filing due date is November 15th.**

Running late? You can request an extension. Go to irs.gov and search for Form 8868 in the box top right. An automatic 3 month extension is available, just for the asking. But you need to ask for it before your return is due. There is no penalty for filing late, but if you fail to file three years in a row you will lose your exempt status.

Make Nonprofit Tax Returns Easy

MoneyMinder customers have it easy when it comes to tax filing time. Using the slick 990-EZ feature, the totals for each form field are automatically calculated. The 990-EZ is the most common form that is filed for nonprofit organizations.

Want to learn more about bookkeeping with MoneyMinder and make your next tax season a breeze? Get started with a free trial today. No credit card required.