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Why You Should File A Tax Extension 2018

Is it just me or do tax deadlines always come at the most inconvenient times?

Schools are preparing for summer break, vacations are being planned, organization events are gearing up, and the list goes on. Adding annual tax filing responsibilities to your ever-growing to-do list is most likely the last thing that you want to do.

Thank goodness for the 2018 tax extension deadline for tax-exempt organizations! It not only gives you extra time to file, bt eliminates the stress and worry of filing taxes for your exempt organization. So why you should file a tax extension 2018? Well sit back, relax, and let us explain.

Woman learning why you should file a tax extension 2018

Why You Should File a Tax Extension 2018

Lower Your Chance of an Audit

The federal government loves setting specific quotas and the IRS must audit a set number of business tax returns every year. However, they will typically fulfill their quota by the May deadline. Take your time and avoid a higher chance of an audit by filing a tax extension 2018.

Adequate Amount of Time to Complete Paperwork

The cliche response to this would be “to get more time to file your 990 Form.” Although this is a great reason to file IRS Form 8868, there is much more to filing this unique extension form. 

IRS Form 8868 can be filed for an automatic extension of 6 months to file your exempt organization’s income tax return. Gather your basic organization details that the IRS requires for you to file a Form 8868, including your organization's name, address, EIN/Tax-ID, tax year period, and which 990 form you typically file. The information must match what the IRS already has on record for your exempt organization.

If you have questions about what to report or how to complete your 990 form, you should file a tax extension 2018 to receive extra time to file correctly. 

NOTE: The only form that cannot be extended with IRS Form 8868 is Form 990-N (e-Postcard). 

Where To File Form 990 Series Tax Extension Online

Our partners at TaxBandits provide everything you need to safely, securely, and easily e-file your appropriate 990 Form before the May 15th deadline. With a single account, you can complete a variety of important tax forms for your nonprofit organization or small business.

Best of all, when you e-file with TaxBandits, you have the option to send your 990 Form information directly to GuideStar, the world’s largest source of nonprofit information.

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