11 I tried the app last month and still had issues, but it did work eventually after a few attempts. The verification process seemed more streamlined than the website. Maybe because fewer people are trying to use the app compared to the main site? Definitely worth trying before paying for anything.

7 The IRS2Go app does use a slightly different authentication system which sometimes avoids the timeout issues on the main website. In my experience, it works best early in the morning (before 8am) or late at night when traffic is lower. Also, make sure your app is updated to the latest version as they've made improvements to the transcript request feature recently.

Thanks for mentioning the national org - I didn't think about that! I just checked our member portal and it looks like they actually do have some resources specifically for chapter treasurers. Apparently they even host a monthly zoom call where they answer tax questions from chapter officers. Do you know how soon after our fiscal year ends we need to file? Our fiscal year follows the academic year and ended May 31st.

The 990-N is due by the 15th day of the 5th month after your fiscal year ends. So with your May 31st fiscal year end, you'd need to file by October 15th. That's good news about your national organization resources! Those monthly calls could be incredibly valuable, especially if you have any fraternity-specific questions that general tax advice wouldn't cover. Many national Greek organizations have dealt with these exact issues across hundreds of chapters for decades, so they often have very specific guidance that's tailored to your situation.

Yeah this is important. My fraternity had to file a 990-EZ even though our income was under 50k because we were classified as a social club not a charitable org. Found out the hard way after doing the 990-N incorrectly for 2 years.

This is so important! I got hit with a huge penalty for not filing FBAR even though I reported all my income correctly. The FBAR deadline is actually April 15 now, same as taxes, but with an automatic extension to October.

I hadn't even thought about the state tax implications! Do you know if all states have these non-resident taxes on property sales, or does it vary by state? The property is in Missouri, and I live in Colorado if that helps.

It definitely varies by state. Missouri does have a requirement for non-resident withholding on real estate sales. They generally require 2% of the sale price to be withheld, but the exact requirements depend on your specific situation. You'll want to look into Form MO-2NR (Statement of Income Tax Paid) which the buyer may need to complete. However, if your sale qualifies for certain exemptions, you might avoid the withholding. Missouri has specific rules about when withholding is required for non-residents. After the year ends, you'll need to file a Missouri non-resident state tax return to report the gain and potentially get a refund of any excess withholding. The good news is that Colorado will generally give you a credit for taxes paid to Missouri to avoid double taxation.

A 1031 exchange wouldn't work well here. Those are for investment or business property, and inherited land that's being partially sold to family doesn't typically qualify. Plus, 1031 exchanges have strict timing requirements (45 days to identify replacement property, 180 days to close) and require a qualified intermediary to hold funds. Doesn't sound like what OP needs.

Does this mean it's not worth contributing to retirement accounts if you have a low tax liability? Like if I'm only going to owe $200 in taxes anyway?

It's absolutely still worth contributing to retirement accounts even with a low tax liability! While you might not get the full benefit of the Saver's Credit, you're still building your retirement savings, which is the primary benefit. Contributing to retirement accounts has multiple tax advantages beyond just the Saver's Credit. With traditional accounts, you're reducing your taxable income, and with Roth accounts, you're getting tax-free growth and withdrawals in retirement. These long-term benefits typically far outweigh the limitations of the credit.

The Saver's Credit and Child Tax Credit are completely separate and don't directly affect each other's calculations. You can claim both! The only "interaction" is that claiming the Child Tax Credit might reduce your tax liability, which could limit how much of the Saver's Credit you can use (since it's non-refundable). With $44k income as head of household with 2 kids, you should qualify for the 10% or 20% tier of the Saver's Credit depending on the exact AGI breakpoints for 2025. Just make sure you're contributing enough to retirement accounts to maximize the credit!

Thanks for explaining! I had about $3,000 in tax liability after all deductions but before credits, and the Child Tax Credit reduced it by $2,000. So I guess I only had $1,000 left that could be offset by the Saver's Credit. Makes sense now why I didn't get the full amount I calculated.