Why you filed Form 990 late, and what you'll do to prevent future late filings must be addressed both from an operational perspective and a governance perspective:
Monday, October 15, 2012
Sunday, October 14, 2012
Avoid IRS Penalties for Filing Incomplete Form 990
According to the IRS, filing an incomplete Form 990 is the same as not filing at all. Be sure your Form 990 is complete. Here are 12 tips to help you:
Wednesday, October 10, 2012
Reasonable Cause Letter is Key to Form 990 Penalty Abatement
A reasonable cause letter to the IRS to request removal of Form 990 late-filing penalties must:
Ideally, it should be written so as not to put the IRS agent to sleep, but should contain all the relevant facts which show the IRS that the organization's circumstance fits within the reasonable cause abatement provisions of the code.
The biggest mistake people make (and that includes CPA's) is that they do not spend enough time planning and editing their letter. This frequently results in a failure to achieve abatement.
Materials are available to help you write the best reasonable cause letter you can based on your particular circumstances. Learn about what is available to you at Form990Help.com/form-990-penalty-relief.html
- Be in writing.
- Contain a declaration that the letter is being signed under penalties of perjury.
Ideally, it should be written so as not to put the IRS agent to sleep, but should contain all the relevant facts which show the IRS that the organization's circumstance fits within the reasonable cause abatement provisions of the code.
The biggest mistake people make (and that includes CPA's) is that they do not spend enough time planning and editing their letter. This frequently results in a failure to achieve abatement.
Materials are available to help you write the best reasonable cause letter you can based on your particular circumstances. Learn about what is available to you at Form990Help.com/form-990-penalty-relief.html
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