| Stiff Tax Penalties for Non-Profits for Late Filing of Form 990

Posted in Non-Profit at 9:00 AM by Loftis Consulting

Most non-profits rely on donations in order to fulfill their mission.  It would be a shame if monies raised went paying tax penalties rather than providing client services.  It is critical that Form 990 is filed annually with the IRS on a timely basis. This article, “Form 990, Late Penalty Abatement“, by the Journal of Accountancy highlights the penalties, ramifications and possible solutions to filing Form 990 late.

 

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