Filing IRS Form 990 correctly is critical for maintaining your nonprofit’s tax-exempt status and demonstrating financial responsibility to both the IRS and the public. Our CPA team guides you through the process, ensuring every section is filled out accurately and in full compliance with IRS requirements.
Avoiding Common Filing Mistakes
- Detailed Financial Disclosures: We ensure that all income, expenses, and asset details are accurately reported, reducing the risk of IRS penalties and audits. Nonprofits often fail to properly account for restricted vs. unrestricted funds, which can trigger red flags during an audit.
- Accurate Reporting of Compensation: Executive compensation reporting can be a sensitive area for nonprofits. We make sure that all key personnel salaries are disclosed transparently and within IRS guidelines to avoid scrutiny.
Public Disclosure Requirements
- Building Donor Confidence: Publicly available Form 990 is a key document donors look at when evaluating a nonprofit’s financial health and transparency. We help you ensure that your financial reporting presents your organization in the best light.
- Clear and Transparent Reporting: We ensure that all the required sections, including program service accomplishments and fundraising activities, are reported clearly, enhancing trust with donors and grant-making institutions.
Maximizing Compliance and Minimizing Risks
- IRS Form 990-EZ and 990-N: For smaller nonprofits, we handle simplified filing requirements to ensure your organization remains compliant without unnecessary complexity.
- Audit Readiness: Properly filed 990s help prepare your organization for potential IRS or donor audits, ensuring that your nonprofit remains transparent and trustworthy.
By ensuring that your IRS Form 990 is accurately prepared and submitted, we help protect your nonprofit’s tax-exempt status, build trust with donors, and maintain compliance with IRS regulations. Let our CPA team guide you through every step to ensure peace of mind and financial transparency.
