Typically, nonprofits and charities can file IRS Form 8868 to extend the time necessary to file their IRS Form 990 or Form 990-EZ. The 8868 extension is broken down into two parts that can grant up to six months of extra filing time.
- Part 1 – Automatic 3-Month Extension
- Part 2 – Additional, Not Automatic 3-Month Extension
For those of you operating exempt organizations, this isn’t new information; however, Form 990/990-EZ aren’t the only tax returns that gain an advantage from a tax extension. Here’s a short list of other IRS forms you can apply to an 8868:
- Form 990-BL – Information and Initial Excise Tax Return for Black Lung Benefit Trusts and Certain Related Persons
- Form 4720 – Return of Certain Excise Taxes Under Chapters 41 and 42 of the Internal Revenue Code (Sections 170(f)(10), 664(c)(2), 4911, 4912, 4941, 4942, 4943, 4944, 4945, 4955, 4958, 4959, 4965, 4966, and 4967) for individuals and non-individuals
- Form 990-PF – Return of Private Foundation or Section 4947(a)(1) Nonexempt Charitable Trust Treated as a Private Foundation
- Form 990-T – Exempt Organization Business Income Tax Return (and proxy tax under section 6033(e)) for corporations, section 401(a) or 408(a) trusts, or other applicable trusts
- Form 1041-A – U.S. Information Return for Trust Accumulation of Charitable Amounts
- Form 5227 – Split-Interest Trust Information Return
- Form 6069 – Return of Excise Tax on Excess Contributions to Black Lung Benefit Trust Under Section 4953 and Computation of Section 192 Deduction
- Form 8870 – Information Return for Transfers Associated With Certain Personal Benefit Contracts
Important: Only IRS Form 990-T can receive a full 6-month extension from a single file. With all the other applicable forms – including Form 990/990-EZ, the IRS requires approval for Part 1 followed by Part 2 to gain all six months. The only exempt organization tax return you cannot use an 8868 for is IRS Form 990-N (e-Postcard).
Keep in mind that an 8868 extension only extends the time you have to file your form. If you’re in a situation where you owe the IRS any money, you must pay it by the original deadline – Form 8868 will not extend your time to pay.
Make an effort to file Part 1 before your original due date and Part 2 before the end of your extended deadline – failing to file on time is a sure way for the IRS to reject your extension request.
With ExpressExtension.com, our cloud-based, e-filing solutions are made easy. You can complete and transmit Form 8868 for any of these applicable tax returns and get approved in minutes. Contact our U.S – based customer support for any assistance with the e-filing process – we’re available at 803.514.5155, Monday through Friday from 9 a.m. to 6 p.m. EST. Or send us an email with [email protected].