Form 990: Late filing penalty abatement, Journal of Accountancy

Form 990: Late filing penalty abatement

“Smaller not-for-profit organizations that don’t file Form 990 or file late may be unpleasantly surprised at how large the penalties can be.”

In this article by Vani Murthy, CPA, with the Journal of Accountancy, solutions are listed to help those who do not file Form 990 on time.

Topics include:

  • Penalty framework
  • Criteria for penalty relief
  • Reasonable cause
  • Considerations from IRS
  • Establishing and claiming a reasonable cause, and
  • Further tips, examples, and suggestions

Read the full article here.