Tax prep & filing
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Welcome to our one-stop solution for all your tax preparation and filing needs. Our team of seasoned tax professionals is here to guide you through the complexities of tax season and ensure that you get every deduction and credit you deserve.
Benefits of Filing Early
Avoiding Penalties: Filing early reduces the risk of late penalties and interest charges. Organizations that file on time or early can avoid the automatic penalties associated with late submissions, which can accumulate quickly.
Enhanced Credibility and Trust: Timely and accurate filings enhance the organization’s credibility with donors, stakeholders, and the public. It demonstrates transparency and good governance, which can lead to increased donor confidence and support.
More Time for Review and Corrections: Filing early provides additional time to review the returns for any discrepancies or errors. This allows organizations to correct any issues before the deadline, reducing the likelihood of audits or complications later on.
Don't wait until the last minute to file your taxes. Take advantage of our expert services and file early to enjoy these benefits. Running behind on your taxes? No problem! Contact us today to take the first step towards resolving your late tax filing issues.
Our fee for tax preparation is based on a flat fee per return for all applicable tax years requesting services.
Tax FAQs
What is Form 990?
Form 990 is an annual information return that certain tax-exempt organizations must file with the IRS. It provides the IRS and the public with information about the organization’s mission, programs, and finances.
This form serves to provide transparency about a tax-exempt organization's activities, governance, and financial performance to the IRS and the public, helping to ensure accountability.
Who is required to file Form 990?
Most tax-exempt organizations with gross receipts over $200,000 or total assets over $500,000 are required to file Form 990. Smaller organizations may be eligible to file Form 990-EZ.
What types of organizations are exempt from filing Form 990 or Form 990-EZ?
Certain organizations, such as churches, some government entities, and organizations with gross receipts of $50,000 or less, may be exempt from filing these forms and can file Form 990-N instead.
What is Form 990-EZ?
Form 990-EZ is a shorter version of Form 990 that can be filed by certain smaller tax-exempt organizations with gross receipts under $200,000 and total assets under $500,000.
What is the deadline for filing Form 990 and Form 990-EZ?
The deadline for filing Form 990 and Form 990-EZ is the 15th day of the 5th month after the organization’s fiscal year ends. For organizations with a calendar year ending December 31, the deadline is May 15.
What happens if an organization fails to file Form 990 or Form 990-EZ?
Failure to file can result in penalties, and repeated failure (three consecutive years) can lead to automatic revocation of tax-exempt status. Late filings can result in penalties of $20 per day for organizations that fail to file on time, with a maximum penalty of $10,500 or 5% of the organization’s gross receipts, whichever is less.
Can organizations request an extension for filing Form 990 or Form 990-EZ?
Yes, organizations can request a 6-month extension by filing Form 8868, but this does not extend the time to pay any taxes owed.
What information is required on Form 990?
Form 990 requires detailed information including the organization’s mission, programs, financial statements, governance, and compliance with tax laws.
Organizations must maintain records that support the information reported on their returns, including financial statements, meeting minutes, and documentation of contributions.
Are there different schedules that need to be completed with Form 990 and Form 990-EZ?
Yes, depending on the organization’s activities and financials, various schedules may need to be completed, such as Schedule A (Public Charity Status) or Schedule B (Contributors).
Is there a fee associated with filing Form 990 or Form 990-EZ?
There is no filing fee for Form 990 or Form 990-EZ, but organizations may incur costs if they hire professionals to prepare the return.
How can organizations ensure compliance with IRS regulations when filing Form 990 or Form 990-EZ?
Organizations can ensure compliance by staying informed about IRS regulations, maintaining accurate financial records, and potentially consulting with a tax professional experienced in nonprofit tax issues.
Where can organizations file Form 990 and Form 990-EZ?
Organizations can file Form 990 and Form 990-EZ electronically through the IRS e-file system or by mailing a paper return to the appropriate IRS address based on their location.
Is it possible to amend a Form 990 or Form 990-EZ after it has been filed?
Yes, organizations can amend a Form 990 or Form 990-EZ by filing Form 990 or Form 990-EZ with the corrected information and checking the box indicating it is an amended return.
How can stakeholders access filed Form 990 or Form 990-EZ returns?
Filed Form 990 and Form 990-EZ returns are publicly available and can be accessed through the IRS website or various nonprofit databases, allowing stakeholders to review an organization’s financial and operational information.