Hello taxpayers! For all our valued tax-exempt organizations, an important deadline is looming on the horizon. It’s crucial to ensure all your administrative matters are in a row, and one day, you should mark your calendars, which is May 15, 2025. This is the deadline for Form 8868, an application for an extension time to file an exempt organization return. If your tax-exempted organization needs more time to submit the annual tax return, you must act soon and file for an extension using this IRS Form 8868.
Ignoring the deadline to submit your tax returns or applying for an extension can led to unnecessary complications and potential penalties. It can detract from the vital work your organization does and might make your organization lose its tax-exempt status.
Understanding Your Filing Obligations as a Tax-Exempt Organization.
Tax-exempt organizations, while not subject to federal income tax, still have significant reporting responsibilities to the Internal Revenue Service (IRS). These requirements ensure transparency and accountability, allowing the public and the government to understand the organization’s activities and financial standing. Depending on your organization’s type and gross receipts, you are generally required to file one of the following annual information returns,
- Form 990, Return of Organization Exempt from Income Tax.
- Form 990 – EZ, Short Form Return of Organization Exempt from Income Tax.
- Form 990 – N
- Form 990 – PF
Preparing these returns requires meticulous record-keeping, financial statement compilation, and a thorough understanding of complex IRS regulations. Recognizing that gathering all the necessary information and completing the forms accurately can take time, the IRS provides a way for organizations to request an extension.
Form 8868: Your Safety Net for Timely Filing.
This is where Form 8868 comes into play. It’s the official application you must file if your tax-exempt organization anticipates needing additional time beyond the standard due date to submit your Form 990, 990-EZ, 990-PF, or other applicable exempt organization returns (excluding Form 990-N).
Key things to know about Form 8868.
Deadline: The deadline to file Form 8868 is May 15, 2025, for organizations with a calendar year-end (January 1 to December 31). If your organization has a different fiscal year-end, the extension is due by the 15th day of the fifth month following the close of your tax year.
Extension Period: Filing Form 8868 grants your organization an automatic six-month extension to file your annual information return. This provides valuable breathing room to ensure accuracy and completeness.
Who Needs to File? Any tax-exempt organization that anticipates it will not be able to file its annual information return by the original due date should file Form 8868. This includes organizations filing Forms 990, 990-EZ, and 990-PF. Notably, Form 990-N filers cannot request an extension as this is a simple electronic notification.
How to File? Form 8868 can be filed either electronically using an authorized e-file provider or by mail to the address listed in the instructions on Form 8868. Electronic filing is generally recommended for faster processing and confirmation.
Reason for Extension: While you need to indicate the tax year for which you are requesting an extension and the specific form you are extending, you do not need to provide a detailed explanation for why you need the extension. The IRS grants the automatic six-month extension upon timely and proper filing of Form 8868.
Prioritize Compliance for Continued Success.
Maintaining your tax-exempt status is paramount to the success and sustainability of your organization’s mission. Filing Form 8868 by the May 15, 2025, deadline is a simple yet crucial step in ensuring compliance with IRS regulations and avoiding potential penalties. Don’t let this important deadline slip your mind—E-file Form 8868 in ExtensionTax.com for a convenient and effortless extension filing.
Please get in touch with our customer support desk with any queries regarding Form 8868 E-filing processes. Call us at +1 – 866 – 245 – 3918 (toll-free) from 8 AM to 6 PM EST on all working days to talk to our customer support executive regarding your doubts, and they will provide immediate clarifications and guidance to sort out your queries. You can also write to us at support@extensiontax.com, and we will get back to you promptly.