Philanthropic Organizations Must Disclose Financial Statements by April 30th! 📢

Hey everyone! 👋 Just a quick heads-up for all the philanthropic organizations out there with a December year-end! The National Tax Service (NTS) has announced that you need to disclose your financial statements by April 30th. 🗓️

What’s New This Year? 🤔

The NTS has been working hard to make things easier for you. Here’s what’s new:

• Integrated Filing System: You can now complete all five reporting obligations on a single screen in Hometax, the NTS online platform! 💻
• Simplified Forms: The form for reporting the use of proceeds from the sale of donated property and operating income has been updated to categorize expenditures by type. Make sure to check it out! 📝
• Pre-filled Information: Hometax will automatically fill in items that haven’t changed from the previous year. ✍️
• Error Checks: The system has been enhanced to prevent incomplete or incorrect filings. ✅
• Customized Guidance: Hometax will only show the screens relevant to your organization’s type. 🧑‍🏫

Key Requirements 🔑

Here’s a quick rundown of what you need to do:

• Disclose Financial Statements: Publish your financial statements on Hometax.
• Submit Reports: File reports on donated property and compliance with obligations to your local tax office either in person or via Hometax.

Need Help? 📞

The NTS is offering a 24/7 AI phone consultation service to answer your questions. Just call the NTS Counseling Center at 126 and press 6 for philanthropic organization consultations. You can also call your local tax office.

Word of Caution: The NTS will be closely reviewing filings, so make sure you’re accurate and thorough! 🧐

Hope this helps! Good luck with your filings! 👍