Tax season can be confusing for nonprofits. Even though your organization is considered “tax-exempt” by the federal government, you are still required to file paperwork and documentation to the IRS. The plus side is that unlike most for-profit businesses, your nonprofit won’t be paying taxes.
However, filing your annual returns can be a long and arduous process. There is a lot you need to know to maintain your tax-exempt status. So whether this is your first time filing or you’re in need of a quick refresher, this should serve as a good roadmap for navigating your nonprofit’s tax season.