Form 990 Preparation & Filing
The IRS requires charitable organizations to file a version of IRS Form 990 annually. Failure to file by the due date, will result in significant penalties and possible loss of tax-exempt status.
Here at Urich CPA, our goal is not just to assist your nonprofit with its Form 990 preparation & filing, we are invested in seeing you succeed. Your Form 990 is the face of your organization; we help you put your best face forward. Form 990 is an opportunity to showcase how well your organization is being run. It is an opportunity to make a strong case for more financial support. We have over 30 years of experience. You are in good hands!
What you can expect
Whether your organization should be filing Form 990, Form 990-EZ, Form 990-N, Form 990-PF, we have you covered!
When you hire us to prepare and file your form 990, you can expect us to:
Make sure that all your relevant paperwork is accurately prepared and filed on time.
Keep track of due dates on your behalf.
File Form 8868 extension whenever needed.
Advise you on how to remain in good standing under IRS 501(c)(3)
Help your organization put its best face forward. A well prepared Form 990 can be a fundraising tool.
Form 990 Frequently Asked Questions
1What is the IRS Form 990?
Also known as the ‘Return of Organization Exempt from Income Tax’, is the annual reporting return for certain tax-exempt organizations. It is designed to provide information on finances, mission and programs. The IRS Form 990 provides the government and public a snapshot of a nonprofit organization’s activities in any given year.
2What Form 990 should my organization use?
There are several IRS Form 990s like Form 990-N, Form 990-EZ, Form 990-PF. What Form 990 is right for your organization depends on your annual gross revenue and asset on hand. Refer to the table below.
3Are there any penalties if I fail to file Form 990 or File the wrong form?
Failure to file for three successive years will result in the revocation of your tax-exempt status. Your organization could also be fined.
4What organizations are required to file Form 990?
All 501(c)(3) private foundations and most federally tax-exempt organizations are required to file with the exception of churches and state institutions.
5What is the deadline for filing Form 990?
Filing deadlines are determined by a nonprofit’s fiscal year or the 12-period for which the organization plans on using funds. Generally, nonprofits are required to file by the 15th day of the 5th months after the end of its fiscal year.
6What if I can’t file on time?
Nonprofits that file Form 990, Form 990-EZ or Form 990-PF can receive up to two 90-day extensions of time to file.
7How often do I need to file?
You are required to file annually.
|Status||And/Or||Total Assets||Form Type|
|Gross receipts of at least $200,000||Or||At least $500,000||Form 990|
|Gross receipts less than $200,000||And||Less than $500,000||Form 990-EZ or Form 990|
|Gross receipts less than or equal to $50,000||Form 990-N|
(No limits on gross receipts)
|No limits on assets||Form 990-PF|
|Forms 990-N, 990-EZ, 990, & 990-PF are due by November 16, 2020.|