Our organization filed 990-EZ on time. But the IRS imposed a penalty on us, what would be the reason?
4.2k views |
Last modified 9/21/2020 12:15:20 PM 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
- 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.
- Answer every question asked in the return unless instructed to skip those questions.
- Provide the required explanation in the information return as instructed.