990
When is Form 990 Due?
Most tax-exempt organizations must file a return each year—even if no taxes are owed. Learn everything you need to know to keep your 501(c)(3) in good standing with the IRS this year. What is IRS Form 990? Form 990 is the annual information return that most tax-exempt organizations must file with the IRS. It provides the IRS…
5 Nonprofit Compliance Mistakes—and How to Avoid Them
Running a nonprofit is no small feat. Between fundraising efforts, volunteers, accounting and meetings, it’s easy to let nonprofit compliance take a back seat. However, neglecting your compliance responsibilities can lead to fines, penalties, the loss of your tax exempt status and damage to your reputation. If that’s not bad enough, if noncompliance is not…
990-EZ Extension: What is IRS Form 8868?
If you’re a small, tax-exempt organization with gross receipts averaging between $50,000 and $200,000, you are likely eligible to file IRS Form 990-EZ. This form is due on the 15th day of the 5th month after your financial year ends. So a group with a January 1 start date needs to file by May 15th.…
What is a Form 990-N?
IRS Form 990-N, often referred to as the “e-Postcard”, is a document that most small, tax-exempt organizations whose annual gross receipts total less than $50,000 must file.
What is a Form 990-EZ?
Form 990-EZ is a required IRS form for tax-exempt organizations that take in less than $200,000 in gross receipts and less than $500,000 in total assets at the end of the year. It is a simplified version of the full Form 990 that requires less detailed information. But, that’s not to say that filing the…
How to E-File Your 990-N
Calling all small nonprofit organizations with annual revenue under $50,000! MoneyMinder and our partners at BryteBridge are here to simplify your 990-N filing process with a solution that will take minutes, not hours, of your time. About the IRS Form 990-N (e-Postcard) IRS Form 990-N, also known as the e-Postcard, allows you to meet your…
Which Form 990 do PTOs and PTAs Need to File?
The world of tax forms can be confusing for Parent Teacher Organizations (PTOs) and Associations (PTAs). Let’s shed a little light on which form 990 to file. Why File a Form 990? The IRS sets certain rules that tax-exempt organizations, like PTOs and PTAs, must follow to keep their tax-exempt status. One of these requirements…
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…
Maintaining Your Tax-Exempt Status
Whether your organization has been tax-exempt from day one or it is a recent change, you have come to this post for a great reason: maintaining your tax-exempt status. There are many benefits to being a tax-exempt organization. The obvious ones being federal tax exemption, tax-deductible contributions and sometimes exemption from employee tax. This status…
How do PTAs, PTOs and Other Parent Groups File Taxes?
Parent Group, PTO & PTA Taxes 101 Taxes. If you dislike doing your own personal taxes, you’re likely not looking forward to filing your nonprofit’s taxes. Right?! Like it or not, Parent Teacher Associations and Organizations who have a federal exemption (think 501(c)3 status) must file a 990, 990N, or 990EZ every year. But how?…
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