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Certain Tax-Exempt Organizations Will Need to File with the IRS

Thursday, July 2, 2015
The IRS may require certain tax-exempt organizations to file Form 990 the month of May.  However, the IRS is cautioning these organizations to omit personal identifying information, such as Social Security numbers (SSNs) on their 990 Form.  Also, the IRS advises organizations to use electronic filing for ease and speed of submissions. 

We are the Strategic Tax Lawyers, a firm made up of a California Tax attorney, a Payroll Tax attorney and an Intent to Levy attorney.  Our firm has a number of successful years of experience dealing with IRS- and tax-related cases.  We are here to provide you with important information about the tax law.  

In general, the IRS expects organizations to return Form 990 and the 990-series documents by May 15th post their tax year. Some organizations use May 15th as their deadline for them to file tax returns.

We have seen organizations lose tax-exempt status because of this IRS guideline.  Legally, any organization that fails to file their taxes for three consecutive years will have their exemptions revoked if they don’t file Form 990 with the IRS. This law has been in effect since 2007.  The law also imposes a new filing requirement on small businesses, but churches and faith-based organizations do not need to file. 

Please remember not to provide social security numbers on these forms, as is stated in the instructions. However, the tax-exempt organizations will need to disclose other documents, such as schedules and attachments.  Identity theft is one of the main concerns about revealing social security numbers. Also, the IRS would like to see organizations file all forms electronically, which also decreases any risk associated with personal information and social security number cyber scams.

For smaller tax-exempt organizations with earnings of up to$50,000 should file Form 990-N electronically. This form provides the IRS with basic information. Tax-exempt organizations earning over $50,000 will need to file a Form 990 or 990-EZ, which depends on their assets and receipts and assets. 

If additional time is needed to file any of the 990-series Forms, they can request an extension. There is no extension for Form 990-N.

The Strategic Tax Lawyers, LLP are a firm of a California Tax attorney, a Payroll Tax attorney and an Intent to Levy attorney..  We, at the Strategic Tax Lawyers Firm, are experts in tax code with years of experience dealing with the IRS.  Call the Strategic Tax Lawyers at (800) 669-4775 for a free consultation to assist you with your tax-related matters.