The November 15th deadline for non-profit organizations is quickly approaching. This is the final due date for calendar year non-profit organizations that have taken advantage of the two extensions already available to them. This includes organizations that are required to file Form 990, Form 990EZ and the online filing of Form 990N. (Keep in mind that the 990N is only required to be filed electronically once every three years to maintain tax-exempt status).
The initial due date of these filings with a 12/31/15 year end was May 15th, 2016. If the first extension was taken advantage of then the due date was extended to August 15th, 2016. If necessary, there is an additional extension available which makes the final due date of the filings November 15th, 2016.
November 15th is also the initial due date for organizations that have a fiscal year ended of 6/30/16. An initial extension is available to extend this due date to February 15th, 2017 and an additional extension is available beyond that to move the final due date of the fiscal year organizations to May 15th, 2016.
It is very important that these forms are filed accurately and timely. Late filings have the potential to produce hefty penalties even though there is no tax due. The maximum penalty assessed can reach up to $10,000.
If you are responsible for filing your nonprofit organization's 990 form and have questions, concerns, or just want to ensure you are filing properly, contact me at firstname.lastname@example.org or any of the professionals here at 216.831.0733 to learn more. I'm ready to start the conversation.