Understanding the File 990 Form: A Comprehensive Guide for Online Filers
When it comes to filing taxes for non-profit organizations, the IRS Form 990 is a crucial document. It provides a detailed overview of the organization’s financial activities, governance, and programs. If you’re preparing to file your Form 990 online, this guide will walk you through the process, ensuring you’re well-informed and prepared.
What is the File 990 Form?
The IRS Form 990 is an annual information return that tax-exempt organizations must file with the IRS. It’s designed to provide the public with information about the organization’s finances, governance, and programs. The form is divided into several sections, each focusing on different aspects of the organization’s operations.
Why File the Form 990 Online?
Filing the Form 990 online offers several advantages over the traditional paper filing method. It’s more convenient, faster, and can help reduce errors. Additionally, online filing allows you to track the status of your return and receive notifications about any issues that may arise.
Step-by-Step Guide to Filing the Form 990 Online
Follow these steps to file your Form 990 online:
-
Register for an account on the IRS e-File website.
-
Choose the appropriate Form 990 version for your organization.
-
Enter your organization’s information, including its name, address, and employer identification number (EIN).
-
Complete the financial section of the form, including revenue, expenses, and assets.
-
Provide information about your organization’s governance, such as board members and officers.
-
Answer questions about your organization’s programs and activities.
-
Review your information and submit the form.
Common Errors to Avoid When Filing Online
Here are some common errors to avoid when filing your Form 990 online:
-
Misentering your organization’s EIN.
-
Not reviewing your information before submitting.
-
Not including all required attachments.
-
Not following the instructions for each section of the form.
Understanding the Form 990 Sections
The Form 990 is divided into several sections, each focusing on a different aspect of the organization’s operations. Here’s a brief overview of each section:
| Section | Description |
|---|---|
| Part I | Basic information about the organization, including its name, address, and EIN. |
| Part II | Financial information, including revenue, expenses, and assets. |
| Part III | Information about the organization’s governance, such as board members and officers. |
| Part IV | Information about the organization’s programs and activities. |
| Part V | Additional information, such as compensation of officers, directors, and trustees. |
Resources for Filing the Form 990 Online
Here are some resources that can help you file your Form 990 online:
-
IRS e-File website: https://www.irs.gov/e-file
-
IRS Form 990 instructions: https://www.irs.gov/instructions/i990
-
Nonprofit Center at United Way: https://nonprofitcenter.unitedway.org/form-990
-
Non
