Last-Minute 990 Filing

Last-Minute 990 Filing

“It’s the most wonderful time of the year!” Or, rather, tax time can be the most wonderful time of the year. That’s up to you. But one thing’s certain: When your nonprofit must complete its IRS tax form 990 filing, your Andy Williams Christmas Album won’t save you....
How to Form a 501(C)(3) in 3 Easy Steps

How to Form a 501(C)(3) in 3 Easy Steps

501(c)(3) nonprofits do the world a great service. These organizations fall into three categories: public charities, private foundations, and private operating foundations.   In spite of the economic drivers of for-profit businesses, nonprofits work without the desire...
FAQ: Do I Need to File the IRS Form 990-EZ?

FAQ: Do I Need to File the IRS Form 990-EZ?

Well, that depends. Are you a 501(c)(3) nonprofit that’s looking to achieve tax-exempt status? If so, then yes, you have to file the IRS Form 990-EZ, if… Your organization has less than $200,000 in gross receipts OR less than $500,00 in assets. The IRS Form 990...
Is My 501c3 Automatically Tax-Exempt?

Is My 501c3 Automatically Tax-Exempt?

Here’s the short answer… No. When you established your 501(c)(3) nonprofit, all you did was create an organization separate from a traditional business that has certain rights and limitations. In terms of limitations, 501(c)(3)s are restricted by their inability to...
Filing Your 990: A Nightmare or a Dream Come True

Filing Your 990: A Nightmare or a Dream Come True

Filing the IRS form 990 can present a mixed bag of emotions. On one hand, it can be a nightmare. You’ve got strict deadlines, requests for thorough, supplemental documents, fees, penalties and that’s all assuming you can navigate the near-impenetrable bureaucracy of...