During Tax season, which we define as January 1st through May 15th, each year, we prioritize organizations that have completed the intake questionnaire and supplied accurate financials. If complete and accurate financial details have been provided by March 31st, 2023, we will meet the May 15th Deadline. Orders placed after March 31st or orders with incomplete financials will have an extension filed. Outside of tax season, we complete filings within 15-30 business days, providing we have all required financials to file.

501(C)(3) organizations are exempt from federal taxes. However, they must still file Form 990 with the IRS each year. This annual report is due on the 15th day of the 5th month after a nonprofit’s fiscal year ends. Typically, this is the 15th of May for organizations with a fiscal year ending on December 31.

Your 990 can be prepared as soon as your fiscal year ends and your books from that tax year are closed. The IRS will not begin accepting and processing forms until the tax season opens, which is typically between the end of January or February. The 990 is due no later than 5.5 months following the end of your fiscal year.

• BryteBridge provides a questionnaire that requests information necessary to file the 990 tax returns. We cannot work on an order until these questionnaires are completed with detailed and accurate information. Limited or inaccurate information will cause processing delays.
• For IRS 990 Filings, we require a copy of the previous year’s tax return to verify accuracy and consistency. This requirement does not apply to organizations filing for the first time.
• For 990 Filings, BryteBridge’s team of tax professionals requires a copy of financial records for the tax year. These documents include an accurate and complete Profit and Loss statement (sometimes called a statement of activities) and a Balance Sheet (statement of financial position).

For Fiscal Year of Decembers 31^st, we require receipt of all everything to file your 990 by March 31st, 2023, we guarantee meeting applicable tax deadlines.

If your situation is more complex, or your financials will not be prepared and provided to BryteBridge in time for the deadline, we will help you file an extension to your order. If an extension is required, there is an additional cost to filing your extension $99.00.

Which 990 to file primarily depends on your revenue:

• 990N: Revenue $50,000 or less (Unless Nonprofit is in the following states, Massachusetts (MA), Mississippi (MS), New Hampshire (NH), or New York (NY). These states will not accept 990N and must file 990EZ. New York will make an exception if under $25K in revenue.
• 990EZ: Revenue between $50,001 – $200,000 (an organization that qualifies for the 990N may voluntarily elect to complete a 990EZ for added public transparency with their financials or if their state requires it)
• 990 Full: Revenue $200,001 +
• 990PF: Private Operating Foundations
• 990T: Unrelated Business Income – in addition to other 990 filed

An organization does not need to file their 990 prior to receiving their 501(c)(3) tax-exempt status, but they will need to file once they do!

An organization that wishes to claim tax-exempt status under section 501(c)(3) but has not yet received an IRS Determination letter recognizing exempt status, is required to file an annual 990 form based on their income and incorporation date. If they are approved the year after they incorporate, they are still expected to file based on their fiscal year end, not their Determination Date. For example, a nonprofit with a December Fiscal yearend month that incorporated in November 2022, doesn’t receive their 501(c)(3) determination letter until June 2023. The organization will be required to file a 990 for Tax year 2022.