Category Archives: Form 990-T

Business Tax Extension Form 8868 is due today for Tax-Exempt Organizations

Hello Taxpayer! Today is the deadline to apply for a business tax extension for your tax-exempt organizations. Non-profit and tax-exempt organizations are not liable for any taxes because they are excluded from any taxes by the federal government. But they have to file their business income tax reports to the IRS within the deadline. If they cannot report the taxes for the previous year within the deadline, they should apply for a tax extension to the IRS and get the automatic tax extension time to report their business income taxes. 

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Reminder to tax-exempt organizations: 990s, other forms due July 15; e-file best way to file

Extension of Time beyond July 15

The Internal Revenue Service today reminds tax-exempt organizations that certain forms they file with the IRS are due on July 15, 2020. For organizations that operate on a calendar-year basis, this includes the 2019 Form 990 they would have normally filed on May 15. The upcoming July 15 deadline applies to many forms that were originally due May 15, including:                                                                                                                                                                                                                                                                

  • Form 990-series annual information returns (Forms 990, 990-EZ, 990-PF, 990-BL)
  • Form 990-N, Electronic Notice (e-Postcard) for Tax-Exempt Organizations Not Required to File Form 990 or Form 990-EZ
  • Forms 8871, Political Organization Notice of Section 527 Status
  • Form 8872, Political Organization Report of Contributions and Expenditures
  • Form 990-T, Exempt Organization Business Income Tax Return
  • Form 1120-POL, Political Organization Filing Requirements
  • Form 4720, Private Foundation Excise Tax Return

Tax-exempt organizations that need additional time to file beyond the July 15 deadline can request an automatic extension by filing Form 8868, Application for Extension of Time to File an Exempt Organization Return. An organization will be allowed a six-month extension beyond the original due date. For a calendar-year 2019 return, this means the extended deadline would be Nov. 15, 2020. In situations where tax is due, extending the time for filing a return does not extend the time for paying tax. 

The IRS urges all organizations to take advantage of the speed and convenience of filing their returns electronically when possible.


Extension of Time

Happy 4th of July! Extend Your Federal Income Tax Filing Deadline to OCTOBER 15

The ExtensionTax.com team wishes all a very Happy 4th of July! The IRS issued Notice 2020-134 on June 29, 2020, the automatically extended filing and payment deadline of July 15, 2020, will not be postponed, any taxpayers looking for further relief including those affected by COVID-19, who cannot pay in full should contact IRS for help. The IRS also encourages the affected taxpayers to pay what they can and consider a variety of payment options available for the remaining balance.  

“The IRS understands that those affected by the coronavirus may not be able to pay their balances in full by July 15, but we have many payment options to help taxpayers,” said IRS Commissioner Chuck Rettig. “These easy-to-use payment options are available on IRS.gov, and most can be done automatically without reaching out to an IRS representative.”

Taxpayers unable to meet the July 15 due date can request an extension to file until October 15. However, this is not an extension of time to pay. Taxpayers must estimate their tax liability on the extension-form and pay as much as they can by July 15 to avoid possible penalties and interest.

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Calendar year Non-profits Form 990-series deadline May 15, now extended to July 15, 2020.

The IRS issued Notice 2020-23 on April 9, 2020, due to the COVID-19, automatically extending the filing and payment deadline to July 15, 2020, for almost all forms of tax returns that were slated to be due between April 1, 2020, and July 15, 2020. Of particular relevance to nonprofits, it applies to the April, May, and June 15 deadlines for any Form 990 series filer, and any required payments connected with those forms, has been automatically extended to July 15, 2020.

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Non-Profit Organization Tax Extension, Form 8868: Deadline Alert!

TODAY! May 15th is the deadline to file your Non-Profit Organization Income Tax Return and if you need more time to file, it’s not too late to e-file for an extension with www.Extensiontax.com . Missing your tax deadline can incur hefty penalties & Interests. Extensiontax.com is your one-stop e-filing solution for IRS tax extensions. E-filing an extension for your business tax return is quick and easy…

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