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.
Category Archives: efile form 8868
May 16 is filing deadline for many tax-exempt organizations
The Internal Revenue Service today reminded tax-exempt organizations that many have a filing deadline of May 16, 2022. Those that operate on a calendar-year (CY) basis have certain annual information and tax returns they file with the IRS. These returns are:
- Form 990-series annual information returns (Forms 990, 990-EZ, 990-PF)
- Form 990-N, Electronic Notice (e-Postcard) for Tax-Exempt Organizations Not Required to File Form 990 or Form 990-EZ
- Form 990-T, Exempt Organization Business Income Tax Return (other than certain trusts)
- Form 4720, Return of Certain Excise Taxes Under Chapters 41 and 42 of the Internal Revenue Code
Face-to-face IRS help available in more than 30 cities on Saturday, March 12
The Internal Revenue Service on march 4, 2022 announced that many Taxpayer Assistance Centers (TACs) will offer face-to-face Saturday help without an appointment from 9 a.m. to 4 p.m. on Saturday, March 12. Normally TACs are only open weekdays.
“Being open on select Saturdays is offered for people to get the help they need when they need it,” said IRS Wage and Investment Division Commissioner and Taxpayer Experience Officer Ken Corbin. “We know that many taxpayers work during the week or have other obligations that make it difficult to get away to take care of their taxes during our routine business hours. We’re here to help, and people don’t need an appointment during these special Saturday hours.”
May 17 is the deadline to request for Tax Extension and to push deadlines beyond due date
Internal Revenue Service announced that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. Today May 17, 2021 is the deadline to report and pay your federal taxes, when you’re in need of additional time then report tax extensions on time to push your deadline beyond May 17. The tax extension is only to report your taxes and taxes you owed should be paid in full by this deadline. Penalties, interest and additions to tax will begin to accrue on any remaining unpaid balances as of May 17, 2021. Individual taxpayers will automatically avoid interest and penalties on the taxes paid by May 17.
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The IRS has announced tax exemption for citizens of those states that have been impacted by storms, straight-line storms, tornadoes, and flooding.
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Following the recent disaster declaration issued by the Federal Emergency Management Agency, the IRS announced that affected taxpayers in certain areas will receive tax relief.
Tennessee – Individuals and households affected by severe storms, straight-line winds, tornadoes, and flooding that reside or have a business in Campbell, Cannon, Cheatham, Claiborne, Clay, Davidson, Decatur, Fentress, Grainger, Hardeman, Henderson, Hickman, Jackson, Madison, Maury, McNairy, Moore, Overton, Scott, Smith, Wayne, Williamson, and Wilson counties qualify for tax relief. The declaration permits the IRS to postpone certain tax-filing and tax-payment deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after March 25, 2021, and before August 2, 2021 are postponed through August 2, 2021.
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