Not-for-Profit Tax Return Preparation
Form 990 and 990 postcard preparation for tax-exempt organizations. We handle the annual filing so your nonprofit stays in good standing with the IRS and remains transparent to donors and the public.
The Filing
Every tax-exempt organization has to file an annual return with the IRS. It does not matter that your nonprofit owes no tax. The return is still required, and the form you file depends on the size of the organization and the activity during the year.
Small organizations with gross receipts under $50,000 can file the 990-N, often called the postcard. Larger organizations file the 990-EZ or the full Form 990. Each one has its own rules about what has to be disclosed and how the numbers need to be reported.
990 Postcard
990 Postcard
For smaller nonprofits we prepare and submit the 990-N. It is a short filing but it still has to be done every year without fail. We confirm the receipts threshold and file on your behalf so the requirement is met.
Full Form 990
Full Form 990
For larger organizations we prepare the complete return. That includes the schedules for governance, compensation, fundraising, grants, and program service accomplishments. The numbers tie back to your books so the picture is consistent.
The Stakes
Missing a 990 filing is not like missing a personal tax return. There is no balance due to settle. The penalty is something more serious. If a nonprofit fails to file for three consecutive years the IRS automatically revokes its tax-exempt status.
Getting that status back is a process. You have to reapply, pay the user fee, and explain the lapse. In the meantime donations are no longer deductible to your donors and you may owe income tax on funds you raised. The annual filing is what keeps that from happening.
Public Document
Public Document
The 990 is open to the public. Donors, grant makers, and watchdog sites can pull it and read it. A return that is accurate and well prepared reflects well on the organization. A sloppy one raises questions you do not want to answer.
State Requirements
State Requirements
North Carolina and many other states have their own charitable solicitation filings that often reference the 990. We make sure the federal return is ready in time to support those state filings so nothing falls behind.
The Process
We start with your books. Clean financial records make the 990 straightforward. If the bookkeeping needs work before the return can be prepared we will tell you that up front and walk through what needs to be done.
From there we gather the supporting information. Board roster, officer compensation, program descriptions, major contributors, fundraising activity. We assemble it into the right schedules and review it with you before anything is filed.
Direct Communication
Direct Communication
You work with Gina and the GMJ team directly. Questions get answered. If something on the return needs explanation we walk you through it so the board understands what was filed and why.
On Time, Every Year
On Time, Every Year
The 990 is due the 15th day of the fifth month after your fiscal year ends. We track that date for you and start the process early enough to file on time without scrambling. Extensions are available if needed but the goal is to file when the return is due.
Trusted Accounting for Small Businesses
First Step:
Start With a Call
Tell us about your business and what you need help with. We'll ask a few questions, evaluate your current situation, and let you know how GMJ can support your books, taxes, and day-to-day operations.
