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Monthly Archives: February 2016

New Registration Requirements for 990-N postcard Filers

Pam Williams0 Comment

by Kendall TysonIRS_logo-233x300

Effective February 29, 2016, the IRS will launch a new website for submitting Form 990-N filings.  Most organizations exempt from income tax under section 501(a) must file an annual information return or submit an annual electronic notice (990-N).  An organization that normally has gross receipts of $50,000 or less must file the 990-N if it chooses not to file Form 990 or Form 990-EZ.

Previously all 990-N filings were completed and filed through the Urban Institute Form 990-N submission website.  However, their website will permanently close on February 28, 2016.  Per the Urban Institute website, “any Form 990-N filings in the Urban Institute system  that have not been completed and submitted by 11:59 pm (eastern) on February 28, 2016, will be lost and will not be submitted to the IRS.  Those Form 990-N filings will need to be entered into the new IRS system beginning February 29, 2106.”

Beginning on February 29, 2016, all 990-N users will need to complete a one-time registration with the IRS before they can complete the 990-N filing.  Form 990-N is due every year by the 15th day of the 5th month after the close of an organization tax year.  There is no paper form for the filing, and all 990-N filings must be completed and filed electronically.

All 990-N filers should plan their filings according to the new website and registration requirements in order to avoid any unexpected delays in completing their annual filing.  Langdon & Company LLP will be happy to help deal with this regulatory change.  Please contact our office for additional information.

Kendall ([email protected]) is a Manager in our Tax practice.  She focuses on various corporate clients and their industry-specific issues.

Have you received all of the tax forms you expected?

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by Cody Taylor

As we’re into February you should have received most if not all of the tax documents related to preparing your 2015 tax returns.  This article in Forbes explains when various tax forms are due to you.  What if you are missing some forms you were expecting?

It’s important to note that some forms may not be received in time to prepare your tax returns on time and you may require an extension as a result.  The most common scenario is if you receive a Schedule K-1 from a pass-through entity.  These entities have to file their tax returns before issuing you a Schedule K-1 which may not happen right away.  As the article also says- your best course of action is to contact the K-1 issuer and find out when they expect the tax returns to be completed so you can plan your own tax filings accordingly.tax forms

If you haven’t received expected W-2s, 1099s or other forms that should have been received by now you have a few options available.  The first and most obvious is to look back through any mail you have sitting around and to check your emails to see if you missed anything.  We’ve all missed something the first time through only to have to document be sitting right there the whole time.  However if the forms really are missing here are a few steps you can take as outlined here and summarized below.

  1. Contact the issuer – They may have simply mailed it to the wrong address, maybe you moved or your form got lost in the mail. Most issuers will be happy to send you a new copy, but keep in mind if they tell you it was sent and you did not receive it make sure to check that they have the correct address on file for you.
  2. Employer or Issuer has moved or closed – Still try to contact them. The income they paid you still should be reported on your tax returns and if they issued W-2s or 1099s in your Social Security number that are not reported on your tax returns the IRS will almost assuredly contact you about it.
  3. Still no forms by February 14th – If you are unable to resolve the missing information through the previous steps you can contact the IRS starting February 15th regarding missing forms. Try to have your address, phone number, Social Security Number, dates of employment, earnings estimate and federal withholdings amount on hand when you call the IRS.  Your most recent pay stub is a good place to get this information.  The IRS phone number is 1-800-829-1040 and I recommend trying to call first thing in the morning when the wait times are often shorter.
  4. Patience – The IRS will then contact the issuer to send you replacement forms but this is done through the mail and is usually not a fast process.

The good news is most of the time the issue of missing forms can be resolved rather painlessly, but if you find yourself missing important tax documents as it gets closer to filing time follow the above steps and contact the IRS, if necessary.

Cody ([email protected]) is a member of our tax staff at Langdon & Company LLP.  He works with various types of clients on tax matters year-round.  Please contact us to get more information on how we can help make your 2015 tax season, a smooth one.