IRS Notice 2020-23, issued on April 9, 2020, clarifies that tax-exempt organizations are fully included in COVID-19 relief. Specifically, the filing and tax payment deadlines for IRS Form 990 series (990, 990-EZ, 990-PF and 990-T) normally due between April 1, 2020 and July 15, 2020 are automatically extended to July 15, 2020.
Tax Filing, Audits, & Public Disclosure Requirements
Is your organization in compliance with filing its Form 990 and the public disclosure rules that apply to charities?
In-Depth knowledge on Tax Filing & Audits
This chapter of Mastering Foundation Law describes the IRS audit process for exempt organizations, including private foundations; highlights current areas of enforcement focus; and discusses the value of formal legal opinions for private foundations and their managers.
The Council on Foundations supports mandatory electronic filing of Form 990s and publicly-available data about the nonprofit sector, while cautioning lawmakers to involve nonprofits in implementation and ensure adequate data protection.
This guidebook, originally drafted in 2009 to summarize the redesigned Form 990 filing requirements applicable to community foundations, incorporates IRS updates through the 2013 Form 990. The Fiscal & Administrative Officers Group For Community Foundations’ Accounting Practices Committee has again worked with Deloitte Tax to incorporate the IRS changes to the 2013 Form 990 into this guidebook.
The persistent scrutiny of nonprofit governance has prompted leaders at many types of organizations to take steps to assure that their own houses are in good legal and financial order. For private foundations, this checklist is a good place to start.
Frequently asked questions and the basics of internal audits.
While the requirements regarding electronic filing of Forms 990 and 990-PF have not changed, the electronic filing requirement for some organizations is still relatively new.
How to report direct charitable activities on Form 990-PF.
Our staff just received a request for a copy of our foundation's Form 990-PF. Are we required to provide this information?
Are corporate foundations required to file electronically the 2006 Form 990 or Form 990-PF?