Are these three year-end tax checks on your list?
For business owners and self-employed professionals. Eligibility depends on your situation.
Most tax-exempt organizations file Form 990, 990-EZ or 990-N each year. For a calendar-year organization, Form 990 or 990-EZ is due May 15 of the following year, and an automatic six-month extension is available with Form 8868. An organization that fails to file for three years in a row can lose its exempt status.
Put the due date on the calendar and confirm which form your organization files.
Pay for staff and contract work is subject to payroll and information-return rules, even for exempt organizations. Check that workers are classified correctly and that W-2 and 1099-NEC forms are filed on time. A written accountable plan can cover staff expense reimbursements.
Confirm worker classifications and gather contractor details before year-end.
An exempt organization with $1,000 or more of gross income from an unrelated business must file Form 990-T, and it may owe tax. This can arise from regular sales or ad income that is not related to the mission.
List income streams that are not mission-related and ask a tax professional how they are treated.
Rules vary by type of organization and filing status. Dates shown are for calendar-year organizations. General education, not individual tax advice.
Book a free 15-minute year-end tax check with Louisa, by phone.
Book your free 15-minute tax check →Or call or text 281-656-9666.