The 501 (C)(3) status for non-profit organizations means that they don’t have to pay taxes annually like others do. However, this does not mean that the tax season is quite that easy for such organizations too. They still need to file the 990 Form to maintain a status of exemption. A2Z Filings is here to assist you throughout the process and deal with the IRS for you.
Form 990 needs to be filled out by all organizations that are exempted from taxes annually if they want to remain compliant with the IRS requirements. It will help show the IRS whether the non-profit is a legitimate organization.
There are different kinds of 990 forms that depend on the finances of the organization. For any non-profits that have gross receipts of $50,000 or less, you can file the 990 postcard or the 990N. Organizations with gross receipts of $50,000 to $200,000 need to file the 990EZ form while organizations that have gross receipts of more than $200,000 should send in the standard 990 form.
A2Z Filings can help you figure out which form you need and complete the process for you, saving you time, resources, and effort.
The tax forms for non-profits should be sent in on the 15th day of the 5th month after the fiscal year for the non-profit ends. For those who are operating on the fiscal year calendar, your forms will be due on 15th May unless you file for an extension. We can complete your application in time and even work with the IRS on extensions if you need them.
If you do not file for three consecutive years you will lose your 501 c 3 status
One of the main reasons for filing the 990 form is that it helps show the IRS that you are a reliable and honest non-profit organization. Here are some other reasons why filing for the 990 form is vital:
There are two main ways to file taxes for non-profit organizations. The first thing you can do is to file the taxes on your own, and the second one is to hire experts who can file them for you.
Filing on your own can be a little more trouble than it is actually worth. It is common to struggle with the changes in the tax filing system, organizing and collecting documents, and interpreting the confusing tax questions correctly if you aren’t properly versed in the tax system.
A2Z Filings can make it easier to ensure all the necessary documentation is analyzed and collected to ensure that the tax forms are filed accurately. We don’t have any hidden expenses or additional fees that may surprise you. We can work well with organizations of all sizes and structures to properly file their tax returns. We have expert tax form 990 filing services that non-profit organizations can take advantage of.