FAQs on Form 990 Series

What are the penalties for late filing?

If an organization whose gross receipts are less than $1,000,000 for its tax year files its Form 990 after the due date (including any extensions), and the organization doesn't provide reasonable cause for filing late, the Internal Revenue Service will impose a penalty of $20 per day for each day the return is late. The maximum penalty is $10,000, or 5 percent of the organization's gross receipts, whichever is less. The penalty increases to $100 per day, up to a maximum of $50,000, for an organization whose gross receipts exceed $1,000,000.

Related Questions

Who must file Form 990-EZ?

When must Form 990-EZ be filed?

What are Form 990-EZ schedules and attachments?

Which organizations are not required to file Form 990-EZ?

What is a group return?

Last modified 04 Aug 2017 17:08 EST

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