Once you`re sure you`ll need to file a 990, it`s time to figure out which form is best for your nonprofit. There are four different 990 forms that you can submit. The criteria for submitting the various 990 forms depend on your finances and whether you are classified as a private foundation or a public body. Filing your 990 is the predominant tool used by the IRS to gather information about nonprofits and verify that your organization remains compliant. If you don`t file your 990 taxes for three consecutive years, the IRS will automatically revoke your 501(c)(3) tax-exempt status. Learn more about other Good Governance Practices on Form 990. Appendices are automatically generated and are available for FREE when you file your nonprofit 990 tax form using our software. The full Form 990 is required for not-for-profit organizations that make a total profit of $200,000 or more or total assets of $500,000 or more. This form is its own animal and atypical for the registration requirements of the average nonprofit organization. If you need to submit this form, we recommend that you learn more about the 990-PF here. An organization that generally has a gross income of $50,000 or more and that must file a tax-exempt return to obtain information about the corporation must file either Form 990 PDF, Return of the Organization Exempt from Income Tax, or Form 990-EZ PDF, Short Form Declaration of the Organization Exempt from Income Tax. For more information about the declaration included in the file, see Filing Phase. The return is due on the 15th day of the 5th month following the end of the organization`s fiscal year.
(For example, the 2008 return of an organization whose fiscal year ends June 30, 2009 would be November 15, 2009.) The due date can be extended by six months without giving a reason by filing Form 8868 PDF before the due date. An organization only benefits from a 6-month extension for a tax return for a tax year. Do you need to correct the information on a Form 990 return that has already been filed? Note: Organizations whose gross revenues during the year and total assets at the end of the year do not exceed certain thresholds may file Form 990-EZ instead of Form 990. For more information, see Political organizations that can file Form 990-EZ. Note: The Taxpayer Priority Act, which came into force on July 1, requires tax-exempt organizations to submit all Forms 990 and related forms electronically. That is, the taxation year of organizations starting after July 2019 must file their 990 returns electronically.