TaxAct has introduced online Form 990 software that allows tax-exempt organizations to file their information returns with the Internal Revenue Service.

TaxAct said its Tax-Exempt Organizations Edition is the first federal Form 990 online product offered by a major DIY tax software provider. Charities, nonexempt charitable trusts and nonprofits will be able to use the software to file their required 990 informational tax forms with the IRS. TaxAct is offering both download and online versions of 2015 Tax-Exempt Organizations Edition at an introductory price of $39.99, although it noted the price is subject to change.

“Until now, nonprofits and tax-exempt organizations haven’t had an online DIY product from one of the three major tax software providers at their disposal to prepare their informational return,” said TaxAct president JoAnn Kintzel in a statement. “In line with our mission to provide everyone with DIY tax software that is both easy to use and fairly priced, our Tax-Exempt Organizations Edition enables these organizations to confidently file on their own and save money.”

TaxAct uses a Q&A interview format to help filers complete the federal informational return required to keep their tax-exempt status. The product comes with unlimited free tax and technical support, along with other features.

TaxAct Alerts inspect a return for any errors, omissions and tax-saving opportunities for Form 990-T filers that may have been missed. Depreciation Summary reports allow users to review their organization’s current, future and accumulated assets, and both fiscal-year and short-year calculations.

The software supports 37 forms and schedules, including Forms 990, 990-EZ, 990-N, 990PF Return of Private Foundation, 990-T Exempt Organization Business Income Tax Return and 8868 (extension of time to file). Federal electronic filing is available for 34 of the forms, including Forms 990, 990PF, 990-EZ, 990-N, and 8868.

For more information, click here.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access