On March 15, 2021, the IRS announced in an e-News Update for Charities & Nonprofits that mandatory electronic filing of 2020 Forms 990-T has commenced.
Not all organizations and due dates were affected when the IRS pushed the annual tax filing deadline back to May 17. Tax-exempt organizations with calendar year-ends are thus reminded that Form 990 and other forms are still due on May 17, 2021.
Many tax-exempt organizations have filed their 990 series forms electronically for several years. Some smaller organizations are still submitting their 990, 990-EZ or 990-PF in paper form to the Internal Revenue Service (IRS).
Are membership dues paid to nonprofits considered a donation or program revenue? It comes down to whether the member receives a significant benefit or an insignificant one. Understanding the difference ensures nonprofits report these contributions correctly on Form 990.
If your not-for-profit has over $15,000 in fundraising event contributions and gross income, then it will probably be required to report the events on Schedule G with the 990. Use the PBMares Accounting for Fundraising Events Tool to compile the information needed to complete the reporting on Schedule G.
If you are a board member or volunteer for a local non-profit, you should be aware of Form 990 Return of Organization Exempt from Income [...]