For tax-exempt organizations operating on a calendar tax year, the final IRS extended deadline is only one week away!
If you haven’t filed your IRS Form 990
or Form 990-EZ yet, you have until the end of November 15 to file without any penalties.
Not every tax-exempt group has November 15 as its last filing due date of the year – only if your organization’s tax year period is from January 1 to December 31, and you filed IRS Form 8868
Part I for the May 15 deadline and filed Form 8868 Part II for the August 15 deadline. Then, you are required to file by next week.
If your organization runs on specific fiscal tax years, then you still have a chance of extending your deadline. For those whose tax year ends on June 30, you can file 8868 Part I for an automatic 3-month extension.
Any exempt organization with a tax year ending on March 31 can also file 8868 Part II for an additional, not-automatic 3-month extension. You should already have Part I approved by the IRS and supply a valid explanation why you need the extra time.
Important: Extension Form 8868 cannot be used to extend an IRS Form 990-N (e-Postcard) filing.
E-filing 990 Series with ExpressTaxExempt.com
Once you’re ready to e-file your 990 form, go to our sister site, ExpressTaxExempt.com, where you can complete and transmit IRS Form 990 or Form 990-EZ much easier and quicker than paper filing. You can also submit tax extensions as well so all your tax-exempt forms can stay within one account.
cloud-based capabilities, you can start, stop, and continue the filing process as often as necessary. As long as your return is transmitted by 11:59 pm local time on November 15, you’ll be compliant with the IRS.
Late Filing Penalties
Failing to file on time can lead to some significant IRS penalty charges. There’s a daily $20 fee each day your return is late, and a $100 daily fee if gross receipts are over $1 million – maximum fees go as high as $50,000 or 5% of total revenues.
Be sure that you’re submitting a complete 990 form to the IRS – an incomplete or inaccurate form also counts as a late return yielding the same penalties. ExpressTaxExempt.com ensures that you’re sending an error-free return with its internal audit check.
Feel free to contact our U.S. – based customer support team for any questions about tax extensions for exempt organizations or about the upcoming November 15 deadline. We’re available at 803.514.5515 or reach us 24/7 with [email protected].