July 08, 2019

USAE Quotes Andrew Steinberg on the Taxpayer First Act

1 min

On July 8, 2019, Andrew Steinberg was quoted in USAE regarding the Taxpayer First Act. According to the article, the new law extends the requirement for nonprofits to electronically file IRS annual information returns (Forms 990, 990 PF, 990-EZ, and 990-T) to all tax-exempt organizations required to do so. Heretofore only a subset of tax-exempts had to file electronically.

"Because of the way filing deadlines are structured, this means that mandatory e-filing is triggered for most organizations in 2021 and beyond, starting with returns covering the 2020 tax periods," said Steinberg. "The IRS may temporarily delay implementation for up to two years for financially small nonprofits and those unduly burdened by the mandated transition from paper to electronic filing."

Steinberg added: "Overall, the IRS Form 990 is a key source of information for the public, media, researchers, policymakers, and regulators about the nonprofit industry and specific nonprofit organizations. A nonprofit should ensure that the financial data and informational responses provided are accurate, complete, and responsive to the questions asked in the form, and present the organization in the best possible light. Those that tell their stories best will win donors and positive press, and minimize their risk of follow-up inquiries."