PrintWhat are some Common 990 Filing Errors?
- The most common error is forgetting or not knowing to file the IRS Form 990. Failing to complete the 990 for three consecutive years can result in losing 501(C)(3) status.
- Incomplete Schedule A, the section of the form that requires charities and certain types of charitable trusts to list the salaries and benefits awarded to top officials and to top-paid independent contractors. This part of the form also focuses on advocacy activity and contains additional questions not covered on the Form 990 itself.
- Failing to note primary exempt mission as required in the statement of program accomplishments.
- Arithmetic errors account for about 20% of all 990 tax returns.
- Not having the signature of any of the organization’s officers.
- Failure to attach required supporting schedules.
- Not listing the correct tax year.
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