Is your organization ready for tax season? For many nonprofits, and particularly for newly elected leaders, handling important tax compliance needs can be daunting. In this webinar, nonprofit tax expert Elena Dedman will share her tips on how US organizations can maintain their tax-exempt status, and show how to fill out your paperwork perfectly first time.

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3 Ways For Your Organization to Maintain Tax-Exempt Status
Presented by
Elena Dedman
Tax e-filing expert, TaxBandits.com

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Your Presenter
Elena Dedman
Tax e-filing Expert,
TaxBandits.com

8. 3 Ways
For Your Organization
To Maintain Tax-Exempt Status
8

9. Today
You Will
Learn
● What You Need to Know About
IRS Forms 990
● Which Forms You May Need to
File and When
● The Information You Need to
File 990s

10. Need To Know You’ll Need COFFEE?!

11. Need To Know
C
O
F
F
E
E
- Correct
- On Time
- Form Type
- Filed
- Every Year
- Electronically

12. Need To Know Failure To File = Revocation
● Loss of Donor/Member Trust
● Potentially Owe Taxes & Penalties
● Reinstatement Procedures and Fees

13. Need To Know How To Verify Exempt Status:
● IRS Tax Exempt Organization Search
● Exempt Hotline 877-829-5500
● GuideStar.org

14. Need To Know Outside The USA:
● Ask Before You File
● Continue Filing (if required in the past)

15. What Forms To
File
Gross Receipts Method
▪ Foundations must file a 990-PF Form regardless of the amount.
▪ *The IRS also uses Total Assets to measure the threshold
between forms.
Must File Can File Voluntarily
$0- $50,000 990-N 990-EZ or 990
$50,001 - $199,999
Total assets < $500,000
990-EZ 990
$200,000 or more
Total assets ≥ $500,000
990 n/a

16. When To
File
Calendar year May 15th, 2018*
Fiscal Year 15th day of the Fifth Month
after the tax year is over
Form 990 Deadlines

17. Fiscal Year Fiscal Year 990 Deadlines*
Fiscal Year
Begins
Fiscal Year
Ends
Deadline to File
990 Forms
Extended
Deadline
(8868 filed)
January 1st December 31st May 15th November 15th
July 1st June 30th November 15th May 15th
September 1st August 31st January 15th July 15th
*Reference Guide is Provided To Attendees

18. Extension
● Form 8868
● 6-month extension of your due date
● Can file when tax year ends
● 990-N e-Postcard - no extension

19. Other Forms
● Form 941 or 944, Employer's Quarterly Federal Tax
● Form 940, FUTA
(501(c)(3) organizations do not need 940)
● Form 1099 Type
● Form W-2

20. Information
For Filing
20
Basic Organization information:
● Legal Name
● Current Address
● Contact Number
● EIN
● Exemption Type
● Fiscal Year Period
● List of Officers and Key Employees

21. Information
for Filing
(cont.)
Forms 990,
990-EZ or
990-PF
21
● Financials for Current and Prior Years
● Previous Return
● Numbers of Employees, Contractors & Volunteers

22. Information
for Filing
(cont.)
Forms 990,
990-EZ or
990-PF
22
● Mission and policies
● Related organizations
● Accomplishments, Assets, Funds and more

23. Information
for Filing
(cont.)
Forms 990,
990-EZ or
990-PF
23
Bonus:
● 990 Filing Checklist

24. How To File
24
Can you afford to paper file your 990?
Paper filing method is known for:
● Missing appropriate schedules
● Incorrect answers & calculations
● Slow internal approval process
● Uncertainty

25. Solution
25
Paper Filing TaxBandits
Missing appropriate schedules We generate all schedules
automatically
Incorrect answers Error audits
Incorrect calculations Automatic calculations
Slow Internal approval process Review/Approve feature
Uncertainty
Approval Letter and
Rejection Corrections

26. E-File Today!
TaxBandits.com
epostcard.taxbandits.com

27. Thank you for
joining us today!
27
If you have any questions please don’t
hesitate to contact us:
▪ Call: 704-684-4751
▪ SMS/Text: 803-620-4380
▪ support@taxbandits.com
▪ TaxBandits.com

28. 8/27/2018 | 28© 2018 Personify Inc. All information is confidential.
3 Ways For Your Organization to Maintain Tax-Exempt
Status
Presented by
Elena Dedman
Tax e-filing expert, TaxBandits.com

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