Tax990 Is Now Accepting IRS 990 Series Returns For Tax Year 2023

ROCK HILL, SC / ACCESSWIRE / January 3, 2024 / It's a new year, and this means that all 501(c)(3) nonprofit organizations will be required to file their annual 990 tax returns for the 2023 tax year in the coming months.

As a leading, IRS-authorized e-file provider, Tax 990 supports the electronic filing of 990 Series returns and many additional supporting forms. Tax 990 also supports the required 990 Schedules that nonprofits may need, allowing them to attach these at no cost during the e-filing process.

Which form an organization is required to file with the IRS is based on their annual gross receipts and the structure of their organization.

Tax990 now supports the following 990 Series Forms for the 2023 tax year:

• Form 990-N - This is the 990 return that is required for the smallest of nonprofits. Organizations with annual gross receipts of $50,000 or less must file this form; it is also referred to as the 990 e-postcard.
• Form 990-EZ - This is a longer form than the 990-N, but not as lengthy or detailed as the standard 990 return. Organizations with annual gross receipts totaling less than $200,000, and total assets of less than $500,000 should file this form with the IRS.
• Form 990 - Form 990 is the standard ‘long form'. The IRS requires that all organizations with annual gross receipts greater than or equal to $200,000, or total assets greater than or equal to $500,000 file this return. However, in many circumstances, organizations with lower gross receipts and assets will elect to file this form, as it provides detailed information that granting organizations often require.
• Form 990-PF - This form is designed specifically for organizations that are formed as a private foundation. All private foundations should file this return regardless of their annual gross receipts or total assets.
• Form 990-T - Form 990-T is an additional form that some organizations may need to file. Those who generate $1,000 or more in unrelated business income (UBI) must report these earnings to the IRS on Form 990-T. UBI is defined by the IRS as any income that the organization generated through an activity not directly related to its charitable purpose.
• Form CA-199 - In addition to the 990 Series returns detailed above, organizations operating in the State of California have an additional filing requirement. These organizations must complete Form CA-199 and file it with the California Franchise Tax Board.
• Form 8038-CP - This IRS form is used for the Return for Credit Payments to Issuers of Qualified Bonds. Issuers of qualified tax credit bonds need to report credit payments received from the U.S. Department of the Treasury. The form ensures compliance and accurate documentation related to these credit payments

Note: Based on recent IRS updates, Forms s 8868 and 1120-POL will be available for e-filing after Mar 17, 2024.

Nonprofits and tax-exempt organizations can ensure accurate and timely annual returns by utilizing Tax 990. Their advanced application boasts several exclusive features designed to simplify the filing process.

• Direct-Form Entry or Interview-Style Filing Options
• Internal Audit Checks using the IRS Business Rules
• Required 990 Schedules are included in the filing fee
• Bulk upload options for importing information
• Copy return information from the prior year to a current year's return
• Prior year filing and 990 amendments are supported
• Teams can collaborate on secure filing from a single Tax990 account
• Instant IRS notifications are provided when 990 returns are accepted/rejected
• Any rejected returns can be corrected and retransmitted to the IRS at no additional cost
• Data security beyond industry standards, including SOC 2 Certification
• Share 990 returns with organization officials and board members for final approval using the ‘Reviewers and Approvers' feature
• A wealth of free resources, including our webinars, blog, YouTube channel, and extensive knowledge base
• Dedicated customer support is available via phone, email, and live chat

In response to the new year, Agie Sundaram, the CEO and Co-founder of SPAN Enterprises (parent company of Tax990), responded by stating, "Together, we look forward to seizing new opportunities and achieving greater milestones in the months ahead. The team at Tax990 is excited to kick off the new year with all of the 2023 forms that our clients in the nonprofit sector will need, reaffirming our dedication to providing cutting-edge solutions and unwavering support for their success."

Nonprofit organizations can begin their IRS 990 E-filing process by creating a free account today at Tax990.com.

About Tax990

Tax 990 is the premier, IRS-authorized e-file provider of nonprofit tax forms. Tax990 provides solutions for nonprofits that are required to file Forms 990-N, 990-EZ, 990, 990-PF, 990-T and 8038-CP with the IRS. With advanced features and affordable pricing, the goal of Tax990 is to help nonprofits file easily, so they can continue to keep doing good in their communities.

About SPAN Enterprises

Based in Rock Hill, South Carolina, SPAN Enterprises has been developing industry-leading software solutions for IRS e-filing and business management tools for over a decade.

The SPAN Enterprises portfolio of products includes TaxBandits, Tax990, ACAwise, ExpressExtension, 123PayStubs, and TruckLogics.

For all media inquiries, please contact Stephanie Glanville, Marketing Manager, at stephanie@spanenterprises.com.

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SOURCE: Tax990

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