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Major Tips to Avoid Charity Tax Deductions Scams

There are many individuals and groups those are pretending to be charitable organizations. These fake organizations are active during the tax seasons in order to attract donations from Americans who are looking for some tax reduction. According to the IRS, these are turned out to be Dirty Dozen Tax Scams for the 2017 filing season. IRS Commissioner John Koskinen said that Fake charities set up to steal the money or personal information are a recurring problem. The...

Tax Differences Between Nonprofit Types | Etax990N

Nonprofit organizations are meant to forward various beliefs, ideas, and initiatives, which are based on a group of individuals or individuals. These organizations are the contrast to the business entities or business, that transfers a certain percentage of its profits to its shareholders or private ownership. Differences between Nonprofit Types The IRS tax code Section 501 (c) summaries the necessities for non- profits, regulates how they interact with the Internal Revenue Service (IRS). The below list of...

Which Form 990 Series You Need To File for your Tax Exempt Organization

Do you know the Form 990 series return for the tax year, which is to be filed by the organizations? The 990 filing thresholds for the tax year is given below for all the organizations that are required to file 990 series return. Form 990 series need to be filed by most of the tax-exempt organizations, except government-affiliated organizations and churches. Form 990 serves as a primary tool for IRS to gather the information about the tax-exempt organizations....

Types of Tax-Exempt Organizations – Etax990N

Tax exemption is a reduction in the taxes, which is usually enforced on the individuals and organizations by state and federal governments. To attain a tax-exempt status, an organization should meet certain criteria that are defined by the U.S Internal Revenue Code (IRC). Organizations that receive tax exemptions from the taxes under the IRC are churches, trusts, charities and any other organizations which are functioned for the tax-exempt purposes. Let us check various types of organization which...

Major Changes Coming for Tax-Exempt 8868 Extension (990n Extension)

In regulation released in January 2017, the Internal Revenue Service started a new extension procedure for the organizations that are required to file Form 990, “Return of Organization Exempt from Income Tax”. Tax Exempt Organizations that need an extension at present must file a “single ”IRS 8868 Form to request the automatic six-month maximum extension of time in order to file the annual tax return. Earlier, the Tax Exempt Organizations proposed to avail a full statutory extension period,...

General Non-profit Summer Fundraising Checklist

The days of summer are here and time to try out new things that you may have been stacking up on your thoughts list. Discussing some of the ways which you can utilize at your downtime during the last weeks of summer and get more out of fundraising marketing efforts come the fall. Non-Profit Fundraising Checklist This fundraising checklist will assist you in all the cases whether you are a new fundraiser for the group, evaluating an...

Requirements to E-File and Complete IRS 990-N Form Annually

Generally, every tax-exempt organization whose annual gross receipts are $50,000 or less must file Form 990-N online which is also referred as e-postcard. Form 990-N must be filed electronically between July 1 and November 15, for the fiscal year that ends on June 30. Required Information to File IRS Form 990-N In order to file IRS 990-N, you are required to fill a set of information to complete the process. Check out the following information that you need to...

File Tax Extension Form 8868 in This Summer | 990 Extension

The tax filers of the nation are having a deep breath as they have survived the current financial year’s personal income tax deadline. As an IRS authorized tax service provider, we are proud of you for filing your 990N tax return on time or filing a 990 extension by the due date to prevent the severe penalties and fees from the Internal Revenue Service. Though you have come out of the major tax deadline, the summer tax season...

Major Reasons for Your Tax 990 N Form Rejection by the IRS

IRS Form 990N filing and submitting to IRS is easy when your Form 990N rejected by IRS. Re-filing the form 990N is becoming a common practice as the IRS started to reject many of the tax Form 990N. So it is important for every tax filer to know why the IRS 990 Form is rejected on your return and need to know how to correct it to avoid penalties or losing the tax-exempt status. Reasons for IRS...

File a Tax Extension Form 8868 in This Summer

Though you have come out of the major tax deadline, the summer tax season is still in full swing especially for tax-exempt organizations, non-profits, and charities. Still did not file returns for your organizations? Or forgot to do so? There is the easiest solution to file Form 8868 tax extension in this summer.  The tax filers of the nation are having a deep breath as they have survived the current financial year’s tax return deadline. As an...