Chapter Treasurer: Did you File Your 990N Yet?

May 2016 - In the United States, all tax-exempt organizations are required to file a tax return by May 15 each year. If you missed the deadline, the good news is there is no penalty assessment for filing Form 990-N late.

Be warned, organizations that fail to file required Forms 990, 990-EZ, or 990-N for three consecutive years will automatically lose their tax-exempt status. Revocation of the organization’s tax-exempt status will happen on the filing due date of the third consecutively missed year. Revocation will result in your chapter being considered a taxable entity and any net profit will be taxable.

Most small tax-exempt organizations (like EAA chapters) whose annual gross receipts are normally $50,000 or less can satisfy their annual reporting requirement by electronically submitting Form 990-N. To electronically submit Form 990-N, Electronic Notice (e-Postcard) for Tax-Exempt Organizations Not Required to File Form 990 or Form 990EZ, use the Form 990-N Electronic Filing system (e-Postcard).

• Form 990-N must be completed and filed electronically. There is no paper form.
• Form 990-N filers may choose to file a complete Form 990 or Form 990-EZ instead.
• Use the Form 990-N Electronic Filing System (e-Postcard) User Guide while registering and filing.

Need to determine if you have filed your tax return?

This IRS website will allow you to look up your past filings. Your FEIN number is the best way to look up your chapter.