Our organization filed 990-EZ on time. But the IRS imposed a penalty on us, what would be the reason?
3.7k views | Last modified 6/8/2020 3:59:44 AM EST | Added by ExpressTaxExempt Team

Applicable To
990-PF 990-N 990-EZ 990 8868 1120-POL

The IRS would have imposed a penalty for any of the following conditions.
 
The organization would have

  • Filed the return late.
  • Transmitted an incomplete return.
  • Provided incorrect information in the return.

To avoid penalties as such, make sure your organization

  1. Completes all the applicable lines of the return. In case if there's no amount or information that needs to be reported on a particular line, enter 0.
  2. Answer every question asked in the return unless instructed to skip those questions.
  3. Provide the required explanation in the information return as instructed.

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