With the new year comes new tax seasons. Ready or not, it’s time to file. Luckily, you can file an extension for your forms 990, 7004, 4868, and more to give you more time to get all of your tax documents in order. Today we're looking at everything you need to know for the extension form 8868.
All About Your Form 8868.
This extension is used when nonprofit groups need more time before filing their form 990, which is return of organization exempt from income tax form. It’s used by the government in order to make sure that nonprofit organizations and charities aren’t taking advantage of or abusing their exempt status.
Keep in mind that there are different form 990s
When you file for an extension the first time you’ll automatically receive an extension for 3 months. Because the extension is automatic, you don’t need to give a reason as to why you need the extension. Simply file the extension in time in order to gain the extension.
Now if you want to file a second extension, you can only do so if you properly filed your first extension in time. So, unfortunately, if you missed the deadline, don’t even think about it. Also, the second deadline isn’t automatic, so you’ll have to provide a valid reason for needing another extension.
What You Need To File Your Form 8868
- Organization name
- Tax year period
- And which form 990 you typically file.
However, keep in mind that this information needs to match the information that the IRS has on record. To verify that your information matches simply give the IRS a call at 1-877-829-5500.
Taxes can be intimidating, with the confusion of what to file, when, where, and how. That’s why ExpressExtension makes it a priority to simplify the process for you.
Filing With ExpressExtension
We won’t leave you hanging because we provide step by step instructions on how to fill the form out. We even will notify you if check boxes or fields are left unchecked or empty. Your form will also be scanned for errors and mistakes.
Once submitted to the IRS you should quickly receive your IRS confirmation via email. You’ll receive confirmations faster during the peak season.
Also, if the IRS rejects your extension you’ll be sent an email with details as to why, with instructions on how to correct the issue. All you will need to do is log into your ExpressExtension account and make the correction. You can then retransmit your form as many times as you need for free.