HOW WE WILL HELP
Most federally tax-exempt organizations (with some exceptions like churches and state institutions) file a 990. All 501(c)(3) private foundations file a 990. We will work with your nonprofit organization, charity, or Church to ensure the correct tax filings are completed. Our professional accountants will provide you the guidance needed to keep your 501(c)(3) status.
Non-Profit tax preparation
Every year we have to file our taxes with the IRS. It is important to make sure that you are filing your taxes correctly and preparing for them all year long.
What is Tax preparation?
Doing your taxes every year can be daunting. Worrying about the IRS and trying to understand all of the laws and rules is a huge undertaking you don't have to worry about. While getting ready to do your taxes this year and every year after there are always changes and updates to be aware of. It's not just about getting it right but getting the best tax credits and deductions so you save the most amount of money possible. Using a tax preparation program is becoming very popular among professionals and individuals but it can't replace the assistance and experience of a tax professional.
Tax preparation for non-profit
Most nonprofit tax-exempt organizations are required to file annual tax returns with the IRS. Even though most tax-exempt nonprofit organizations do not pay federal taxes (that is what “tax-exempt” means), most do have to file an informational return with the IRS. This annual reporting return is called a Form 990 A 501(c)(3) organization is a corporation, trust, unincorporated association, or other type of organization exempt from federal income tax. Although most nonprofits are tax-exempt (meaning they do not have to pay federal taxes) they do still have to file a return. They have to file what is called a Form 990 annual with the IRS. This is an informational return that is required. We can help you to file it correctly and on time.
What nonprofits are exempt from filing IRS Form 990s?
- Most faith-based organizations, religious schools, missions or missionary organizations
- Subsidiaries of other nonprofits – those that may be covered under a group return filed by the parent organization
- Many government corporations
- State institutions that provide essential services.