Category Archives: exempt Organisation

E-file Form 4868, Postpone Your Tax Due Date by 6 six months!

If we are paying attention to our lives, we’ll recognize those defining moments. The challenge for so many of us is that we are so deep into daily distractions and ‘being busy, busy’ that we miss out on those moments and opportunities that – if jumped on – would get our careers and personal lives to a whole new level of wow. In today’s modern lifestyle almost every individual cribs stating that 24 hours a day is not enough to take care of their daily chores.

Month of April is here and your Personal Income Tax is due in another 15 days. You read that right this year the tax due date is April 17th not April 15th, thanks to the weekend and the following federal holiday. Well, though the due date is postponed by two days is that really enough for you to gather all the required paper works and file your Personal Income Tax on time without any mistakes. We can hear that loud “NO” so can the IRS. Continue reading →

IRS has issued an update on processing Exempt Organizations filing Form 990 series

IRS has sent a recent update on processing Exempt Organizations Tax return filed in Form 990 series…

Form 990 processing changes

As of January 8, the IRS is returning Form 990 series returns filed on paper – and rejecting electronically filed returns – when they are incomplete or the wrong return. IRS.gov answers the question What happens if my Form 990 is missing information or a schedule, or is the wrong return?

Form 990-EZ reminders

Tax-exempt organizations with annual gross receipts under $200,000 and assets under $500,000 (at the end of the reporting period) can use Form 990-EZ, Short Form Return of Organization Exempt from Income Tax, to meet their annual filing requirement. This means you’ll submit less information and fewer schedules than the “full” Form 990, Return of Organization Exempt from Income Tax.

Form 990-EZ includes “assistive” features designed to make filing easier, quicker, and more accurate. These 29 “help buttons” don’t replace the instructions, but they do alert the filer to traditionally troublesome areas and have decreased the error rate for paper-filed returns.

The IRS encourages exempt organizations to file electronically, noting the error rate for electronically-filed returns was only 1% for 2017. A list of companies providing this service is on IRS.gov.

Form 990-series returns are due on the 15th day of the fifth month after an organization’s tax year ends. For organizations using the calendar year as their tax year, May 15 is the deadline to file for 2017. If you need an extension of time to file, use Form 8868, Application of Extension of Time to File an Exempt Organization Return.

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Business Income Tax Extension, Form 7004: Deadline Alert!

The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge – Stephen Hawking

TODAY! March 15th will be the deadline to file your Business 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… Continue reading →

Business Income Tax is due NOW! E-file for an Extension Today!

“It’s tax time. I know this because I’m staring at documents that make no sense to me, no matter how many beers I drink.” – Dave Barry. The day Dave was quoting is about to haunt you in another 3 days. YES! You read that right, March 15th, is your deadline to file and pay your Business Income taxes for 2017. Not everyone is prepared to file their Business Income Taxes, due to lack of paper work or lack of time. Continue reading →

E-File your Business Income Taxes Now, Less Than 4 Days Left!

“It’s income tax time again, Americans: time to gather up those receipts, get out those tax forms, sharpen up that pencil, and stab yourself in the aorta.” – Dave Barry. It is not at all wrong to have a thought to file your business income taxes on time, but one should make sure that they file it correctly with all the required supporting documents & pay their taxes on or before the deadline that falls on March 15th to safeguard themselves from IRS penalties & interests. Only very few have all the necessary documents handy to submit their Business Income Taxes on time. What about Others? Continue reading →