Category Archives: efile form 8868

File Form 8868 Today With ExtensionTax.com To Gain3 Months Automatic Extension Of Time

Greetings from ExtensionTax.com, hope you are doing good. Today, we are going to speak about form 8868- Application for Extension of Time to File an Exempt Organization Return. Like every other form is tagged with extension of time to file the return, exempt organizations also fall in the same category. Though they don’t have heavy taxes pay, they surely have to file their return through Form 990, Form 990 BL, Form 990 EZ, Form 990 PF, Form 990 T (corporation) 6 months extensionForm 990-T (trust other than above), Form 4720, Form 6069, Form 8870 and file their return by 15th of May 2014. With only one day in hand, we request every exempt organization to file and pay their extension through form 8868 only at ExtensionTax.com if they are not ready with their documents. Continue reading

Exempt Organization Can File Form 8868 To Gain Extra Time To File Return

Welcome back filers; hope you are pink of health. Today’s topic for our blog is form 8868. This form is an Application for Extension of Time to File an Exempt Organization Return. If you are ready with your papers and need extra time to file your return, you can file form 8868 and request for 3 months extension of time (6 months for a corporation required to file Form 990-T). This is not the end, you can also request for additional 3 months of extension if the original 3 month was not sufficient to get your papers ready. However, do note, you cannot apply for both the extensions, i.e. automatic 3-month extension and the additional (not automatic) 3-month extension at the same time. Continue reading

Exempt Organizations can Gain Automatic Extension via Form 8868

The IRS offers automatic 3 months extension to exempt and non-profit organizations that are not required to pay their taxes but file.  However, they can always file for an extension through form 8868 and Extensiontax.com is a leading IRS certified service provider helping many organizations file for an extension with ease. Therefore, exempt organizations wanting to file for an automatic 3 months extension (6 months for corporations filing through form 990-T) can do the same online before the time expires. Additionally, trustee of trust required to report to the IRS through form 1041-A or 5227 can use form 8868 to get automatic 3 months extension. It is important to keep in mind that exempt organizations can get additional 3 months extension but only when they are granted the first 3 months extension. Continue reading

IRS and Treasury Likely to Issue Revised Guidelines for Tax Exempt Organizations

The United States Department of Treasury along with the IRS is likely to announce an official release having qualification requirements for organizations filing under the tax exempt category, as a social welfare organization. According to the proposed guidelines, there would be certain amendments to the present regulations and provide insights on the total proportion these organizations should promote social welfare activities. However, the U.S Department of Treasury and the IRS would consider and reflect on the comments before releasing the final proposal. Danny Werfel, IRS Acting Commissioner added that, “This is part of ongoing efforts within the IRS that are improving our work in the tax-exempt area,” Continue reading

Time is Running Out! File Today for Exempt Organization Tax Extension

IRS Form 8868: A Brief Understanding

IRS form 8868 has been designed for exempt organizations wanting for 3 months extension for filing their tax return. Moreover, these organizations can apply for an additional (non-automatic) 3 months extension if those three months are not enough for them. However, it is not possible for organizations to file for both automatic and non-automatic extension concurrently The due date to file for an extension through form 8868 falls on May 15th, 2013.

The exempt organizations that qualify to file for form 8868 are charitable organizations, churches and religious foundations, political organizations, private foundations, contributors, etc. Exempt organizations who wish for an extension can both e-file and paper file form 8868 but, it is advisable to choose the former over the later so that the filing process can happen quickly and efficiently. Moreover, filing online saves time, reduces the chances of making errors, and much more. The following forms should be used accordingly when filling for an automatic extension through form 8868.

  • Form 990: This tax return form is for some federally nontaxable organizations . To add to your knowledge, non-profit organizations that have not received the status of tax exempt, faith-based organizations, religious schools, subsidiary organizations, etc. need not have to file for an extension through form 990.
  • Form 990 BL: This extension tax return form is for the ‘information and initial excise tax return for black lung benefit trusts and certain related persons’. Tax filers should keep in mind to file form 990 BL by the 15th day of the fifth month keeping in mind the filer’s tax year.
  • Form 990 EZ: This form is an information return filed annually by organizations exempted from income tax along with political organizations and charitable trusts. Tax filers should remember to file by the fifteenth day of the fifth month to get an extension.
  • Form 990 PF: Charitable trusts and non-exempt organizations such as private foundations need to file for an extension using form 990 PF in IRS form 8868.
  • Form 990-T: Businesses involved in charitable trusts come under the exempted organizations list. To get an automatic 3 months extension businesses should file for form 990-T in form 8868. The extension  tax return should be filed by the fifteenth day of the fifth month and before the tax year ends.
  • Form 4720: This is ‘return of certain excise taxes under chapters 41 and 42 of the Internal Revenue Code’. Usually business organizations including certain foreign organizations should file for extension through form 4720 in IRS form 8868. Businesses and individuals should file before the 15th day of the fifth month.
  •  Form 6069: This form is like a worksheet, which is filed by individuals and organizations to report the excess contribution to black lung benefit trust. Tax filers should file before May 15th to get an extension.

The aforementioned pointers provide a brief overview of form 8868 and the several forms that fall under this tax extension form. Visit ExtensionTax.com to get an automatic extension up to 3 months for filing exempt organization tax return.