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IRS News - New law goes into effect for nonprofits requiring electronic filing of Form 990 tax returns

The Taxpayer First Act goes into effect in 2020 with limited exceptions for the 2019 forms

 
 
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A new law goes into effect in 2020 with the Internal Revenue Service (IRS) now mandating nonprofits to begin electronically filing (e-filing) their Form 990. This law will affect thousands of nonprofits e-filing for the first time.

The Program on Philanthropy and Social Innovation at the Aspen Institute presents an introductory brochure with easy to follow information related to the guidelines set forth by the IRS. There are limited exceptions for some nonprofits with this new law, so organizations are advised to read the IRS rules carefully.

Download the brochure here: Opening the 990: Information and Tools for Driving Impact

Included in the PSI brochure are:

  • Guidelines for which nonprofits need to file and when
  • Highlights of abbreviated exceptions for 2019 Form 990 and Form 990-PF filers
  • Tips for various nonprofit filers regarding how to navigate the tax filing process
  • Downloadable tax forms 

Please consult your tax advisor, accountant, or in-house finance executive, to determine the best course of action regarding your nonprofit's own tax filing.
 

About the Program on Philanthropy and Social Innovation at the Aspen Institute

The Aspen Institute’s Program on Philanthropy and Social Innovation (PSI) convenes leading figures in the field of nonprofit research to assess and improve the state of the nation’s nonprofit data, thereby strengthening our understanding of the country’s vast civil society. Convenings provide a unique forum for information-sharing, collaboration, and action. Visit: https://www.aspeninstitute.org/programs/program-on-philanthropy-and-social-innovation-psi/

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