Non-Profit Tax Returns Due

IRS Form 990 reporting activities annually for organizations exempt from income tax are due on May 15th. The required form can be found on the IRS website here.

Most nonprofit organizations recognized as tax-exempt under Section 501(c)(3) of the Internal Revenue Code are required to file Form 990 with the IRS each year. This includes charities, educational institutions, foundations, and other nonprofit groups, regardless of whether they had any activity during the year. The form provides detailed information about the organization's mission, finances, and governance, ensuring transparency and accountability to the public. However, smaller organizations with gross receipts normally $50,000 or less may qualify to file a simpler version, Form 990-N (e-Postcard), instead.

Certain types of organizations, such as religious institutions like churches and some government-affiliated entities, are generally exempt from filing Form 990. Additionally, private foundations must file Form 990-PF, a variation specifically for them. It’s important for nonprofits to understand their filing requirements because failure to file for three consecutive years can result in automatic revocation of their tax-exempt status. Staying compliant with the IRS ensures that organizations can continue their mission while maintaining the public trust and eligibility for donations.