What You Need to Know: Form 990 Tax Deadline

The Form 990 tax deadline is Thursday, May 15. With the deadline quickly approaching, organizations need to know what to expect when they file and also be aware of any changes that have been made to the form, to mitigate any surprises.

Form 990 is an annual reporting return that certain federally tax-exempt organizations must file with the IRS. It is a public document that provides information about an organization’s finances, mission and programs.

For tax year 2013, the Form 990 has been revised to clarify and modify certain reporting requirements. Some examples include:

• Instructions for organizations whose accounting period has changed
• Documentation requirements to support a name change
• Compensation reporting
• New glossary and a revised definition of “contributions“

Do you have questions about filing or filing an extension? To learn more about Form 990 and what it means for your organization and operations, please contact Ira Nevelow, partner-in-charge of Weaver’s estate, gift and trust taxation services.