Tax Preparation

Preparing accurate and complete tax returns are just as important to the long-term health of your organization as having audited or reviewed financial statements. In recent years, the IRS has developed much more stringent reporting requirements for exempt organizations. In addition to lowering the 990 EZ qualifying threshold (currently only available to organizations with less than $200,000 in revenue), the IRS has added reporting complexities to the full 990. In particular, the IRS is focusing more heavily on board governance issues – they want to see that your Board of Directors is actively engaged with their fiduciary oversight responsibilities.

Although you might try to prepare your own tax returns, are you confident that you can navigate the arcane terminology and schedules required to be fully in compliance with IRS regulations? If not, Crosby & Kaneda can offer comprehensive tax preparation services for your California based exempt organization. Failure to file accurate and timely tax forms can result in significant financial penalties, and may threaten the exempt status awarded to your organization.

Our staff have years of experience in understanding IRS compliance issues and knowing the right questions to ask to ensure that your forms are accurate and complete.  We have a dedicated tax preparation staff person (under the oversight of a CPA partner), so you can rest assured that we are catching all the details relevant to your organization’s unique circumstances.

We provide efficient preparation of the following tax forms:

  • IRS Form 990 (or 990EZ) and all related schedules as needed – the basic return required of all nonprofit organizations
  • IRS Form 990-T and all related schedules as needed – for those organizations that require this additional level of reporting
  • Franchise Tax Board (FTB) Form 199 – the basic return required for all exempt organizations registered in California
  • FTB Form 109 – for those organizations that require this additional level of reporting to the State of California
  • Registry of Charitable Trust Form RRF-1 – the annual form required by the Attorney General for most exempt organizations that raise funds in California

Engaging Crosby & Kaneda for your tax preparation needs provides peace of mind and assurance that your forms are complete, accurate, and in compliance with all IRS and State of California reporting requirements. Our signature on the forms also ensures your Board of Directors and funders that you take your annual tax reporting seriously.