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Video instructions and help with filling out and completing Are Form 843 Errors

Instructions and Help about Are Form 843 Errors

Hi, I'm David McCray. I'm a CPA and I want to help your organization write the best letter that it can to the IRS to have its penalties abated for filing its Form 990 late. So, I want to give you a couple of things to get you started. First of all, you're going to need to think about two things. Number one, why did your organization file late? And number two, how are you going to prevent future filings from being late? Those are two very important issues to address when you're writing your letter. The first one, why did your organization file late, you need to look at that from both an operational perspective, in other words, the mechanical reason for why you filed late, and from a governance perspective. First, the operational perspective. That would mean, did you just forget? Did you never know that you had a filing requirement? Did you have high director turnover and so there was no institutional memory or knowledge about the filing requirement, and it simply wasn't passed on to the new directors? Perhaps the treasurer who was responsible for filing the return was ill or moved and took the records with him or her. Perhaps you were relying on a CPA who dropped the ball or a volunteer who dropped the ball. Perhaps you realized the return was late but didn't feel that you had the resources to get the return prepared and you sort of just pushed it off because you thought that the penalties just wouldn't be that high. But of course, as you've probably found out, twenty dollars a day, even for a small organization, adds up very quickly. So, those are the operational reasons for why your return might not have been filed timely. From a...