Did you file an incomplete Form 990? If your tax-exempt organization failed to file for three consecutive years, chances are your tax-exempt organization will incur late filing penalties." - "Now, what are the late filing penalties and how can you prevent them?" - "For an organization whose gross receipts are less than 1 million dollars and lacks reasonable cause for late filing, the IRS imposes a penalty of 20 dollars per day for each day the return is late. The maximum penalty is ten thousand dollars or five percent of the organization's gross receipts." - "The penalty increases to one hundred dollars per day, up to a maximum of 50 thousand dollars, for an organization whose gross receipts exceed 1 million dollars." - "So, instead of filing late, why don't you head over to expresstaxexemption.com and e-file Form 8868 for an automatic three-month extension of time to file your 990 series return?" - "If you have any questions about penalties and extensions, please contact our dedicated support team located in Rock Hill, South Carolina.
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Video instructions and help with filling out and completing Form 990 Schedule H 2024
