IRS Form 990: Tax Preparation Guide for Nonprofits

Learn about IRS Form 990, in this detailed tax preparation guide for non-profits. Get a clear-eyed view of the steps to take!

Nonprofit organizations help improve people’s quality of life at the municipal, state, or even national levels. Consequently, this type of organization is eligible for specific tax benefits, namely they are exempt from most federal income taxes.

However, nonprofits with the IRS’s tax-exempt status are still required to fulfill certain requirements, such as filing a yearly Form 990 or other 990 series information return. 

Understanding tax issues related to nonprofit organizations can be time-consuming and complicated for beginners. So in this article, we’ll give a detailed tax preparation guide for nonprofits by answering the most common questions, including what Form 990 is, what form a nonprofit organization needs to file, and how to file taxes for nonprofits. 

Keep on reading!