The deadline to file your Form 990 is quickly approaching and you already know that you’re not going to be able to file on time. Without losing your cool, you attempt to file an Extension Form 8868 to receive extra time; however, you realize that there’s a Part I and a Part II of the same form. Which part do you file for your extension?
Tax exempt organizations such as public charities, churches, private foundations, and other non-profits can file for extensions. The Extension Form 8868 is comprised of two parts. The first part is for an automatic 3-month extension of time; this will automatically extend your filing deadline for three months or six months, if you have to file a Form 990-T. And, there is no need for an explanation requesting your 3-month extension.
The second part is for an additional, not-automatic 3-month extension; in order to file a Part II, you must have already been granted an automatic 3-month extension from a previously filed Part I. To obtain this additional extension from a Part II, you must provide reasonable cause for requesting additional time. Remember, you cannot file a Part II without filing for a Part I first.
ExpressExtension & Express990
ExpressExtension and Express990 support both parts of the Extension Form 8868 for the current tax year and the most previous tax year only. To successfully file an extension, you should already have your Business/Organization name, address, Employer Identification Number (EIN), an estimated amount of tax owed to the IRS, if any, and the type of tax form normally filed for the organization’s tax returns; and, check carefully that the information matches exactly what the IRS has on record. Even if you’ve filed a Part I elsewhere, you can still file a Part II with our services.
Whether you decide to file on time or not, you must submit either your proper Form 990 or an Extension Form 8868 on the 15th day of the 5th month after your tax period ends; failure to do so may result in penalties. Let ExpressExtension and Express990 ease the stress of tax filing with a safe, secure, and complete submission; and, instant approval of your Form 8868.