Nonprofit Executive Directors, financial managers, and Boards of Directors should be aware of these important deadlines in nonprofit bookkeeping and accounting.
January 31
Deadline to send out W-2 forms to employees and 1099-NEC forms to non-employee workers (including independent contractors) for payments made in the previous year.
April 15
Deadline for individuals (including sole proprietors) and households employing domestic staff to file and pay taxes. This can be relevant for nonprofits in terms of donor acknowledgment and processing final donations from the previous year.
May 15
For nonprofits with a December 31 year-end, Form 990, 990-EZ, or 990-N (e-Postcard) filings are due to the IRS. This is a critical deadline for maintaining tax-exempt status. Extended deadline for nonprofits with a June 30th year-end to file Form 990, 990-EZ, or 990-N if an extension was requested.
June 30
End of the fiscal year for nonprofits operating on a June 30th fiscal year-end. Critical to finalize financial statements and prepare for annual reporting and compliance requirements. For December year-end clients, a good time for mid-year reviews of budget, compliance, and planning for year-end fundraising activities.
October 15
Final extended deadline for individuals and households employing domestic staff to file and pay taxes if an extension was requested. This can affect donor-related processes for nonprofits.
November 15
Extended deadline for nonprofits with a December 31st year-end to file Form 990, 990-EZ, or 990-N if an extension was requested. For nonprofits with a June 30 year-end, Form 990, 990-EZ, or 990-N (e-Postcard) filings are due to the IRS. This is a critical deadline for maintaining tax-exempt status.
December 31
End of the calendar year; important for year-end donations, tax planning, and financial closing processes. Many donors choose to make their charitable contributions by this date for tax deduction purposes for the year.