The IRS has various tax Forms for non-profit organizations which can be quite confusing. Let’s try to demystify the 990 Tax Form find out what it entails. The IRS Form 990 acts as a reporting return for the Internal Revenue Services for non-profit organizations that are tax exempt by law. It also includes all important information like the programs, finances, and mission of the organization. The newly introduced N Form allows the IRS to closely audit all the organizations that are eligible for tax exemption and ensures the organizations adhere to all the rules and regulations laid out by the government.
FAQs about IRS 990 Tax Form
Do I need to pay to get the 990 Forms?
No, the IRS tax Form 990 is available completely free of charge across various websites. You do not need to pay anything to get the tax Forms but, you do need to create a free account to access the Forms for free.
I do not see my organization listed what should I do?
If you find out that your organization is not listed for filing the IRS Tax Form 990 on the “Forms 990 & Docs” page on the report page of any nonprofit organization, there may be several reasons behind it including:
• The organization might not need to file the tax Form
• The organization is new and has not filed yet
• The organization is yet to file for the current year
Which organizations are required to file the Form 990?
The IRS tax Form 990 or the IRS 990 E postcard is required to be filed by organizations that have been declared exempt by the Internal Revenue Services. All organizations which have an accumulated earning of less than $50,000 in any fiscal year are exempt from tax and need to file the Form 990 to report their earnings for the current financial year. However, churches and other state institutions are not required to file the tax Form.
Which organizations are not required to file the Form 990?
Organizations that have not been declared as tax exempt by the IRS and faith based organizations are not required to file the Tax Form 990. Subsidiary organizations are also not included even if they work as a non-profit concern and such institutions get grouped with their parent companies.
What are 990N Deadlines or Due Date for E-filing?
The IRS 990 e-Postcard can have varying filing dates. The date is determined by the ending date of any organization’s fiscal year and there are no fixed dates. All organizations need to file the 990N Tax Form by the 15th day of the 5th month from the last date of any fiscal year. Organizations require filing the Form 8868 to get 6 months of extension periods if they require.