Fri, December 8, 2023 at 9:45 AM EST
ROCK HILL, SC / ACCESSWIRE / December 8, 2023 / Tax990, a leading IRS-authorized e-file provider for the nonprofit sector, is thrilled to announce its partnership with the Michigan Nonprofit Association (MNA). This partnership will provide their members with convenient access to a comprehensive 990 e-filing solution. Members of the Michigan Nonprofit Association can now easily find, access, and create their Tax990 account just by visiting the MNA website. With Tax990, MNA members can file their:
The Importance of 990 Reporting for Nonprofit Organizations
Nonprofits of every size depend on their tax-exempt status to maintain operations. This status allows them to operate free of federal income taxes and instead focus on contributions, grants, and other sources of funding to forward their charitable activities and mission-related programming.
Without filing annual 990 returns as required by the IRS, nonprofits become vulnerable to losing their tax-exempt, 501(c)(3) status. In fact, if an organization fails to file an annual tax return for three consecutive tax years, the IRS will automatically revoke this exemption.
In addition to the IRS reporting requirements, 990 Series returns are also an excellent opportunity for nonprofits to share their success with their community, future contributors, and grant-making organizations. All the financial information collected on 990 Series returns is made available to the public, giving nonprofits the ability to share a snapshot of their program activities, accomplishments, and good stewardship practices.