SAI CPA Services Reminder: May 15 Nonprofit Tax Deadline!
Nonprofit organizations work tirelessly to make a difference—and staying compliant with tax regulations is essential to keeping that mission alive. At SAI CPA Services , we’re here to support you every step of the way. Here’s what you need to know as May 15, 2025 approaches: 1. Form 990 Filing Deadline Most tax-exempt organizations must file IRS Form 990, 990-EZ, or 990-N by May 15 . The form you need depends on your annual gross receipts and total assets . 2. Avoid Penalties Missing the deadline can lead to daily penalties of up to $100 (depending on your organization’s size). If you fail to file for three consecutive years , the IRS may revoke your tax-exempt status . 3. Know Which Form You Need Form 990-N (e-Postcard): Gross receipts normally ≤ $50,000 Form 990-EZ : Gross receipts < $200,000 and total assets < $500,000 Form 990 : Gross receipts ≥ $200,000 or total assets ≥ $500,000 ...