Exempt organizations are required to file an annual tax return with the IRS each year — these returns report total revenue, expenses, and activities of your tax-exempt organization. Each return should be filed by the 15th day of the 5th month after your organization’s tax year end date. Nonprofits, charities, and other exempt groups typically file an IRS 990 form based on their gross receipts from the filing year.
Large organizations with gross receipts over $200,000 and total assets over $500,000 file IRS Form 990. Other groups with gross receipts between $50,000 and $200,000, and total assets less than $500,000, must file IRS Form 990-EZ. Smaller organizations with gross receipts less than $50,000 can submit IRS Form 990-N (e-Postcard).
Filing a tax return for exempt organizations typically takes an enormous amount of paperwork and time. But e-filing with an online, IRS-authorized e-file provider incredibly helps with filing directly with the IRS. ExpressTaxExempt is such a vendor that offers a cloud-based solution for exempt organizations looking to submit 990 forms or tax extensions more quickly, accurately, and easily than paper filing.
ExpressTaxExempt keeps tax information entered completely secure while allowing you to access your account from any web-enabled computer. Exempt tax returns and extensions are transmitted instantly to the IRS only, and you’re automatically notified of your filing status through emails each step of the way.
With e-filing, you need the same type of information that gets reported when filing a paper form 990 — this includes basic organization details like your employer identification number, organization name and address, and primary officer info. Other information needed to file form 990 comes from your organization’s program services, statements of revenue, expenses, list of employees, net assets, tax compliance's, and prior IRS filings.
ExpressTaxExempt offers a variety of unique features that streamline the entire e-filing process. You can access your account from anywhere or continue where you last left with its cloud-based technology. The on-screen instructions guide you step by step through interview-style questions — you know just what information to enter and how to proceed. Your 990 form is also checked automatically for any errors so you can submit the most accurate information.
You can manage and e-file for multiple organizations from just one account. Invite members or directors to double check and e-verify your 990 form via a secure link and web portal. Schedules for IRS Form 990 and Form 990-EZ are automatically generated based on your interview answers. Bulk upload information such as contributions, e-file corrections for prior filings with amended return support, and get live assistance with its US-based, customer support team.
After transmitting your return to the IRS, you gain access to a printable copy of the 990 form you e-filed, and you receive real-time email notifications about your filing status. If you happen to find a mistake after submitting to the IRS, you can choose to e-file an amended return. ExpressTaxExempt transfers all your information from the original return to the amended return, and all you need to do is make corrections and transmit — no worries about starting completely over.
If the IRS rejects your 990 form, you have a 10-day grace period to re-file it. ExpressTaxExempt identifies the error and takes you directly to where you can make your changes. After making your corrections, you can re-transmit your rejected tax return to the IRS as many times as necessary with no extra or hidden charges.