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 extension, Form 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.
Extensions usually come in with terms and conditions, and this also applicable for form 8868. Exempt organizations are allowed automatic 3 months extension (6 months for a corporation required to file Form 990-T) to get the documents in place. However, if the first 3 month extension is not sufficient to get the papers placed, you can apply for another 3 months extension (not automatic) for prepare the documents. Here’s the twist. You cannot file both the extension together i.e. automatic 3-month extension and the additional (not automatic) 3-month extension at the same time.
When you are filing Automatic 3 months extension (6 months for a corporation required to file form 990-T), ensure the dues are paid on the line 3c by the due date of the form you are applying an extension. That’s not the end, We always advice our filers to file the return much before the due date, just in case the extension gets rejected you have sufficient time to make amends and file it again to IRS.
In addition, the trustee of the trust required to file form 1041-A or Form 5227 must make use of form 8868 to request an extension of time for those return. These instructions are applied to such trusts unless the context clearly requires otherwise.
You know the terms and conditions to file form 8868, its time to explore the methods of filing an extension.
Paper filing and Efiling are two methods to file an extension and gain extra time to prepare the documents. Both have their own set of advantages; we would check them out in detail.
Paper filing: Being the foremost method of filing a return or extension, it has always been treated as the traditional method. Though it was time consuming and not so reliable source to file a return, it made people learn how to be more careful while filing a return.
Efiling: With the technology, things changed, moved or simply new things are invented. And that’s how efiling was introduced. This method deals with the virtual filing, where preparing, calculating and error checking is converted online, giving you space to file without hassles.
With the birth of efiling, many online services providers like ExtensionTax.com were on the roll, with high competition around. Our application is embedded with sophisticated features, adding ease to your filing process. When things are converted online, from proof checking to calculations, filing can be done in minutes. If you forget to file your extension and have just few hours in hand, ExtensionTax.com can be your rescuer. Update information as per the request and sit back, acknowledgement receipt would be reaching your email id in no time. Do note, IRS would not approach you if your extension is accepted but it would notify you the reasons for rejecting your extension plea.
So come over and file with ExtensionTax.com today. Reach our Tax Experts @ 1-866-245-3918 or shoot an email to support@ExtensionTax.com. You trust us, we will not let you down.