©2024 Rivera Taxes LLC. All rights reserved.
Tax exempt organizations are required to file an informational return every year with the IRS and possibly with its state of organization whether they have revenue or not. Per the IRS, an organization will lose its tax-exempt status automatically if it does not file an informational return for three consecutive years. With our nonprofit return services, we will help you keep your organization in good standing with the IRS and prevent unsavory news.
There are 3 different forms that may apply to your organization:
Form 990-N (e-postcard)
For organization with gross receipts* normally of less than $50K
Form 990-EZ
For organizations with gross receipts between $50K and less than $200K.
Form 990 (Long form)
For organization with gross receipts of $200K or more or total assets (by the end of the year) of $500K or more.
*Gross receipts are the gross revenue (including donations/grants) for the year from all sources before deducting any expenses or cost of goods sold.
All packages are inclusive of return preparation and e-filling (if applicable). For Form 990-EZ and 990, we require a down payment prior to the start of the engagement of $250 and $500 respectively. This down payment will be applied towards the final fee.
Form 990-N is only $120.
Form 990-EZ with all required schedules is $600.
Form 990 starts at $1,300. We will need to review your last filed Form 990 to assess our fees. If this is the first time you need to file Form 990 (long form), we charge $1,300.
There are no additional fees other than the ones discussed above. The price you see is what you pay.
Here is a brief summary of our process.
For any package you select, you’ll have to create an account in our client portal. When creating your account, you need to select the service you want, in this case “Tax-exempt organization return”. After creating your account, you’ll be assigned an organizer to fill out. In this organizer, you’ll provide us with general information about your entity and key financial information to help us determine the right form to file.
Additional steps by form:
Form 990-N
Shortly after you finish and submit the organizer, a member of our team will reach out in the portal’s built-in chat. If we determine that your organization qualify to file Form 990-N, we’ll send you an invoice for our fees. You must pay for our fees before we start preparing your return.
Form 990 and 990-EZ
These returns are more complex than the 990-N and require a longer engagement. To have your return completed, we require that we hold a few meetings via Zoom. In these meetings, we’ll go over the sections to complete and explain to you in clear terms the information we need to accurately complete the sections. Trust us, these meetings will greatly increase the speed at which we complete your return. We estimate approximately 1-2 sections to complete Form 990-EZ, and 3-4 sections for Form 990. You will be able to select the times that are most convenient for you to hold these meetings.
To see a complete list of the steps, click on “Get started” under your desired package above.
©2024 Rivera Taxes LLC. All rights reserved.