IRS Form 990s due for tax-exempt organizations

Regardless if an organization is tax-exempt, it still must file a tax return with the IRS. In fact, having a 501c3 means that you have even more paperwork because you must account for how the company uses its income and donations. And those ways must comply with IRS regulations. Churches and state institutions are some of the few who don't have to file a 990. Nonprofit tax returns are called Form 990. There are different types of Form 990 dependant upon the gross receipts of the organization. For example, a nonprofit may use Forms 990, 990-EZ, or 990-N.

It helps to get assistance with filing 501c3 forms at least the first time, so you have an idea of what's involved. It's likely that if you got assistance with creating a 501c3, that same company could help you with the nonprofit tax returns. Additionally, the IRS can help you figure out which form to file. Some nonprofits might use a group return through a parent nonprofit. The IRS form 990 has a different schedule as well. It's due on the 15th of May after the end. You can avoid fees by submitting your Form 990 on time each year. There are consequences for the nonprofit that doesn't file. After three years, the IRS will automatically revoke the tax-exempt status.

The IRS will automatically revoke any tax-exempt status after three years of the organization not filing. And there's no way to appeal the process for automatic revocations; however, you may be able to get a revocation. But why put the organization in that position with the IRS? If you're having trouble with the 990 and nonprofit tax returns, then get assistance with filing 501c3 forms. It's worth the effort and a little extra expense to keep the tax-exempt status and allow your donors to have a tax write-off.

As a 501c3 consultant, BDJ Non-Profit Solutions not only provides assistance with creating a 501c3, we evaluate your state and federal 501c3 exempt status, and advise you on corrective action to get reinstated if the IRS does revoke your 501c3. We can help you eliminate compliance concerns as well as help prepare your Form 990s too. If you need assistance with filing 501c3 forms, then contact a 501c3 consultant at BDJ Non-Profit Solutions for a free consultation today.

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