Hello taxpayers! Suppose you own a tax-exempt organization or responsible for taxes in such an organization. In that case, you must know that the last date to report the business income tax returns for your tax-exempt organization or apply for an extension to do so is coming soon. Though tax-exempt organizations are not required to pay taxes, they must submit their tax returns to the IRS every year along with proofs and supporting documents. If they cannot submit the tax returns on time, they can apply for the automatic extension period of six months using the extension Form 8868. Therefore, the deadline to report the business income tax or apply for Form 8868 for tax-exempt organizations is May 15, 2024. So, ensure that you submit your tax returns using the original form or apply for an extension using Form 8868 before the deadline hits. Otherwise, the IRS will charge penalties and late fees.
It is common for all types of business organizations to apply for an extension to submit their tax reports to the IRS. They must ensure to apply for a tax extension period through the appropriate extension form on or before the deadline to secure the extension time from the IRS. They will not ask for reasons for your extension application. You can file the extension form; the IRS will verify and approve the form. That’s all; you can peacefully enjoy the automatic six-month extension to submit your business income tax reports—E-file Form 8868 in ExtensionTax.com to get the extension approved immediately. ExtensionTax.com is an IRS-approved modernized online e-filing platform where business and individual taxpayers can smoothly apply their respective extension tax applications online and get instant approval from the IRS. Since the deadline is only a few days away, you can E-file Form 8868 and get instant extension approval from the IRS to continue your business activities peacefully, knowing that you’ve got six months to submit your tax reports.
