Last updated on Apr 5, 2016
Get the free IRS Form 990 and 8879-EO for Exempt Organizations
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What is IRS Form 990
The IRS Form 990 and 8879-EO are documents used by tax-exempt organizations to report financial information and authorize electronic filing with the IRS.
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Comprehensive Guide to IRS Form 990
What is the IRS Form 990 and 8879-EO for Exempt Organizations?
IRS Form 990 serves as a vital tool for tax-exempt organizations, providing essential financial information to the Internal Revenue Service. This form helps ensure that tax-exempt organizations maintain transparency and accountability in their operations. On the other hand, Form 8879-EO acts as an electronic filing authorization, allowing organizations to submit Form 990 electronically.
Various types of organizations, such as charities, foundations, and other exempt entities, are required to submit these forms. Understanding the necessity of these forms can aid organizations in complying with regulatory obligations while fostering trust among donors and the community.
Purpose and Benefits of IRS Form 990 and 8879-EO
IRS Forms 990 and 8879-EO play a crucial role in supporting accountability and transparency for nonprofit organizations. By filing these forms, organizations demonstrate their commitment to ethical practices, enhancing donor trust and public confidence.
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These forms simplify the electronic filing process with the IRS, making it more efficient for organizations.
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They showcase the financial health of nonprofits, which is essential for maintaining donor relationships.
Who Needs to Submit IRS Form 990 and 8879-EO?
Eligibility to file IRS Forms 990 and 8879-EO primarily encompasses various exempt organizations. Organizations such as charities, education institutions, and social welfare organizations typically fall under this requirement.
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Charities, such as Habitat for Humanity, must file these forms to comply with IRS regulations.
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Each organization should be aware of state-specific rules that might affect their submission responsibilities.
When and How to File IRS Form 990 and 8879-EO
Understanding the filing deadlines for IRS Forms 990 and 8879-EO is essential to avoid penalties. For the tax year 2013, organizations needed to adhere to strict timelines to ensure their compliance.
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Check the specific deadline based on your organization's fiscal year.
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Follow the step-by-step instructions for electronic submission through the IRS website.
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Explore alternate submission methods if you opt out of e-filing.
How to Fill Out IRS Form 990 and 8879-EO Online
Completing IRS Forms 990 and 8879-EO accurately is crucial for organizations. A detailed field-by-field breakdown of each important section helps avoid common pitfalls.
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Ensure that you provide all required information, including supporting documents.
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Be aware of common errors to avoid, such as incorrect calculations or missing signatures.
Guidance on Signing and Notarizing IRS Form 990 and 8879-EO
Signing IRS Forms 990 and 8879-EO involves understanding the differences between digital and traditional wet signatures. Organizations must confirm whether notarization is necessary for their filings.
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Valid digital signatures are accepted for electronic submissions, streamlining the process.
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Ensure signatures are correctly placed before submission to avoid delays.
Security and Compliance When Filing IRS Form 990 and 8879-EO
Security measures during the electronic filing of IRS Forms 990 and 8879-EO are paramount to protect sensitive information. Organizations must comply with regulations such as HIPAA and GDPR, ensuring data security throughout the process.
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Filing systems utilize robust encryption methods, such as 256-bit encryption.
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Organizations should prioritize security when handling financial documents to safeguard against potential breaches.
Tracking and Confirming Your Submission of IRS Form 990 and 8879-EO
Once forms are submitted, organizations need to confirm receipt by the IRS to ensure compliance. Various tracking tools are available to help in this process.
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Utilize IRS confirmation methods to verify that your forms have been received.
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If no confirmation is received, follow up with the IRS for clarity on your submission status.
What Happens After You Submit IRS Form 990 and 8879-EO?
After filing IRS Forms 990 and 8879-EO, organizations should be prepared for potential IRS responses. Understanding these responses can help organizations navigate any necessary follow-up actions effectively.
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Organizations may receive queries, acceptance notifications, or rejections from the IRS.
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Be informed about the steps required to amend or correct any issues in your filings.
Enhance Your Filing Experience with pdfFiller
Using pdfFiller can significantly improve the process of completing and filing IRS Forms 990 and 8879-EO. This platform offers unique capabilities that facilitate ease of use while ensuring security.
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pdfFiller allows for editing and managing IRS forms efficiently through an online interface.
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Security features of pdfFiller help protect sensitive financial data during the filing process.
How to fill out the IRS Form 990
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1.Access the IRS Form 990 and 8879-EO on pdfFiller by navigating to the site and using the search bar to locate the forms.
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2.Once the form is open, use the interactive PDF features to click on each required field and enter the necessary information clearly.
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3.Before filling out the form, gather all required financial statements, records, and signatures from your organization’s decision-makers.
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4.Carefully complete each section of the forms, ensuring that all information is accurate and aligns with the financial records you have compiled.
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5.Review the filled forms thoroughly for any errors or omissions and make corrections where necessary.
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6.After finalizing the information, use pdfFiller’s features to save the document, which can be done by clicking the save option available in the interface.
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7.You can download the completed forms as PDFs or, if applicable, submit them directly through pdfFiller’s online submission options.
What are the eligibility requirements for filing IRS Form 990?
To file IRS Form 990, organizations must be recognized as tax-exempt under IRS regulations, typically 501(c)(3) organizations, and have annual gross receipts above a specific threshold.
What is the deadline for submitting IRS Form 990?
The IRS Form 990 is due on the 15th day of the 5th month after the end of your organization’s fiscal year, with extensions available upon request.
How can I submit Form 990 once it's completed?
Completed Form 990 can be submitted electronically through the IRS e-file system or by mailing a paper copy to the appropriate IRS address based on the organization’s location.
What supporting documents are required when submitting Form 990?
Organizations should include financial statements, lists of board members, and any other relevant documentation to support the information reported on Form 990.
What are common mistakes to avoid when filling out Form 990?
Common mistakes include misreporting financial figures, failing to include required schedules, and not obtaining necessary signatures, all of which can delay processing.
How long does it take to process Form 990 once submitted?
Processing times for Form 990 can vary, but organizations typically receive confirmation within a few weeks; however, it may take longer during peak filing seasons.
Can I amend my Form 990 if I find an error after submission?
Yes, if you discover an error in your submitted Form 990, you can file an amended return by completing a new Form 990 with the correct information and indicating that it's an amended form.
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