Taxes can be a little confusing with all of the different rules and protocols put in place. For this reason, sometimes organizations need a little more time to get all of their information together to file, so they can file an extension.
However, the rules must still be followed to correctly fill out your extension form! Luckily, here at ExpressExtension, were extension form experts and can help you quickly e-file the form you need.
Today we’re looking at exempt organization group returns and foreign corporation details when e-filing form 8868.
Form 8868 for Group Returns and Foreign Corporations
Now Form 8868 is the exempt organization tax extension form. It’s used by charities, nonprofits, and other tax-exempt groups to get an automatic 6-month extension to file their tax returns.
Because the extension is automatic they do not need to provide the IRS with a valid reason for needing an extension. All they have to do is correctly fill out the form by the due date of their Form 990s.
However, keep in mind that Form 8868 only extends the amount of time that you have to file your return. It does not extend the amount of time you have to pay your tax due. You must pay your tax by the deadline or you’ll be subject to fees, interest, and penalties.
If you’re filing for a group you must make sure that you list on your Form 8868 that you’re filing a group return. This option is available in the list of organization types with ExpressExtension. The extension can be for all of the organizations in your group, or for only some of them.
In the event that your group extension isn’t for every organization in your group then attach a list that includes the names, addresses, EINs or employee identification numbers for all of the organizations included in the extension. Tax-IDs can also be used instead of EINs.
When foreign corporations file Form 8868 then enter they need to enter their address information a little differently. If your address is located outside of the US or US territories where it says ‘city or town, state, and ZIP code’ enter your city, province or state, then country. Then follow your country’s way of entering your postal code. It’s very important that you do not abbreviate your country’s name.
E-Filing With ExpressExtension
ExpressExtension is a safe and secure IRS authorized e-file provider, so your information is protected. Also, ExpressExtension prides themselves in providing outstanding service that takes the headaches out of filing by making the process quick and simple.
Once you choose the form you need to file ExpressExtension provides helpful instructions on how to fill out the form. Then we provide an audit check on your form to scan it for any mistakes before you transmit it to the IRS. This method will prevent you from the hassle of having to make corrections later.
Also, the status of your form will be provided in the dashboard so you can see when your form makes it to the IRS and when it’s approved. This generally happens within minutes of e-filing, unless the season is incredibly busy.
If you form is rejected you’ll receive an email that explains why with instructions on how to make corrections on your form. You can then quickly make the corrections and resubmit your form to the IRS as many times as you need to for free with ExpressExtension.
With ExpressExtension you aren’t alone. Our dedicated support team is always standing by to help. If you have any questions please don’t hesitate to contact us via live chat, phone, or email.