The October 15th Deadline Is Approaching: Which Nonprofits Should Be Preparing?

The 15th of each month marks a Form 990 filing deadline, and the October deadline is approaching. Certain nonprofits must complete their 990 filing by the 15th to stay compliant with the IRS and maintain their tax-exempt status.

Selecting a reliable e-file provider with essential features can greatly simplify meeting this deadline. Here’s a quick overview of the October deadline and how Tax990 streamlines your filing process.

Determining the Form 990 Deadline for Your Organization

Form 990 and its variants are generally due on the 15th day of the 5th month following the conclusion of the organization’s tax year.

As we know, organizations may operate on either a calendar or a fiscal tax year.

For organizations with a calendar tax year, the filing deadline is May 15 of the following year.

For organizations that follow a fiscal tax year, the deadline will be determined based on the specific end date of its tax year.

Who Must File by The October 15th Deadline?

Based on the IRS rule of filing on the 15th day of the 5th month following the end of an organization’s tax year, organizations meeting the criteria below are likely required to file this month.

Organizations whose fiscal tax year ended on May 31 of this year.

The organizations that obtained a six-month extension for their April 15 deadline this year. This extension period ends this month.

Tax990 Simplifies Your Last-Minute Filing

Tax990 offers a comprehensive solution for navigating the complexities of tax compliance, even when you’re on the verge of a deadline. With features designed to streamline the filing process, Tax990 ensures accuracy and adherence to IRS requirements, helping organizations meet their filing obligations efficiently and confidently.

Below are the key features of Tax990 tailored to meet your filing requirements:

Flexible Filing Methods:

Interview-Style Filing – Answer a series of questions. Based on your responses, Tax990 generates the form for you.

Form-Based Filing – Manually input information onto a digital form that mirrors traditional paper forms, ideal for experienced filers.

Automatic Schedule Inclusion: Necessary 990 schedules are automatically included at no extra charge. Simply complete your form, and Tax990 will include applicable schedules based on the data you provided.

Internal Audit Check: Our system reviews your form for errors based on IRS instructions. You will receive notifications and guidance on fixing any detected errors, ensuring you can submit your form confidently.

Free Retransmission of Rejected Returns: If the IRS rejects your return, Tax990 allows you to correct and retransmit it at no additional cost.

Exclusive Features for Tax Professionals:

Staff Management: Add team members, assign tasks, and track your team’s progress.

Client Management: File for multiple clients and obtain their approval before submission.

E-Signing Options: Secure electronic signatures through Form 8453-TE and Form 8879-TE.

Forms Supported by Tax990

Tax990 supports all the Form 990 variants that need to be filed by this deadline.

The following forms are supported by Tax990:

Form 990-N (e-Postcard): Applicable for organizations with gross receipts of $50,000 or less.

Form 990-EZ: Applicable for organizations with gross receipts under $200,000 and total assets less than $500,000.

Form 990: Applicable for organizations with gross receipts of $200,000 or more or total assets of $500,000 or more.

Form 990-PF: Applicable exclusively for organizations classified as private foundations.

Form 990-T: Applicable for organizations with unrelated business income of $1,000 or more.

In addition to these 990 forms, Tax990 supports a range of other forms you may require to file, such as CA Form 199, Form 8868, Form 1120-POL, and Form 8038-CP.

The deadline for this month may be approaching, but our expert team is ready to help you through every step of the filing process. Create your free Tax990 account today to get started.