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.
- 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.
Register for an IRS webinar: Help for charities
- Section 501(c)(3) Exempt Purposes
- Key activities including
o Private benefit or inurement activities
o Lobbying or legislative activities
o Filing requirements
o Unrelated business income activities
o Failing to operate with an exempt purpose
Register for this event here for Thursday, Dec. 18 at 2 p.m. ET
The contest is currently closed and the tally’s are being added up. Best wishes to all the nonprofits! Winners will be announced at Waco Foundation’s Holiday Donor Reception December 4th.