Simplify the preparation and e-filing of Form 990-PF, backed by expert assistance

• Private foundations that file Form 990-PF may be required to attach Schedule B, depending on the data they reported.
• Schedule B is typically filed when a private foundation has received contributions of $5000 or more from any one contributor during the corresponding tax year. Learn more about Schedule-B

Yes! The IRS mandates that Form 990-PF must be filed electronically for tax years ending on or after July 31, 2020 (per the Taxpayer Act of 2019).

Get Started with Tax990 and file your Form 990-PF electronically with the IRS. We support current (2024) and prior tax year filings (2022 & 2023).

• Yes! If your foundation needs more time to file Form 990-PF, you can file Form 8868 to extend your 990-PF deadline. Upon filing Form 8868 on or before the original deadline, the IRS will grant an automatic 6-month extension.
• This means if your organization follows the calendar tax year and files an extension, your extended 990-PF deadline will be November 15.

• For smaller organizations with gross receipts < $1,274,000, the penalty for late filing Form 990-PF is $25/day. The maximum penalty is $12,500 or 5% of the foundation’s gross receipts (whichever is less).
• For larger organizations with gross receipts > $1,274,000, the penalty for late filing Form 990-PF is $125/day. The maximum penalty is $63,500 or 5% of the foundation’s gross receipts (whichever is less). Learn more about 990-PF penalties.

No, a private foundation cannot choose to file Form990 & Form 990-EZ. They are required to file Form 990-PF, regardless of their gross receipts and assets.

Yes, Even if the foundation has no gross income in the tax year and has incurred losses on investments, it is still required to file Form 990-PF annually.

Generally, Private foundations that obtain exempt status from the IRS are not required to pay federal income taxes. However, a domestic exempt private foundation, a domestic taxable private foundation, or a nonexempt charitable trust treated as a private foundation must make estimated tax payments for the excise tax based on investment income if it can expect its estimated tax to be $500 or more.

Generally, Private foundations that obtain exempt status from the IRS are not required to pay federal income taxes. However, a domestic exempt private foundation, a domestic taxable private foundation, or a nonexempt charitable trust treated as a private foundation must make estimated tax payments for the excise tax based on investment income if it can expect its estimated tax to be $500 or more.

At Tax990, we know that mistakes can occasionally happen when filing your 990. That’s why, as part of the Tax990 Commitment to accuracy, transparency, and peace of mind, we offer No-Cost Amendments.

If you filed your original Form 990 with us and later discover an error after the IRS has accepted it, you can file a corrected return without paying any additional fees—up to 3 times.