Tick tock, tick tock! Your time is running out. Your Form 990 is due today by midnight. Are you ready to file for your tax exempt organization? We hope so because the fees for filing late are pretty high. However, if you aren’t ready to file, don’t panic. Just take a moment to breathe then go to ExpressExtension to e-file IRS Extension Form 8868.
Exempt Organization Tax Extension Form 8868
IRS Extension Form 8868 is the form that you can use to save the day because it’s the extension form used by charities, nonprofits, and other tax-exempt groups in order to get an automatic 6-month extension to file their Return of Organization Exempt From Income Tax Form 990.
Imagine instantly pushing the deadline back from today until 6-months from now. Well by spending a few minutes filling out Form 8868 you can make that dream a reality. The process is incredibly simple. Because this extension is automatic you don’t need to provide the IRS with a valid reason for needing an extension. All you have to do is complete Form 8868 by the May 15th deadline.
The only thing you have to keep in mind is that Form 8868 can’t be used to extend the due date of Form 990-N (e-postcard). Also, Form 8870 can’t be e-filed with part I or part II, but we can generate the form in your account for you to easily print, complete, and send via mail.
Along with getting a 6-month extension to file your Form 990
, another great reason to file for an extension is to avoid getting hit with the fees imposed by the IRS for not filing your 990 in time.
If your organization has less than $1,000,000 in gross receipts for the year then you’ll be fined $20 per day that your return is late with a maximum penalty of $10,000 or 5% of your gross receipts, based on which amount is smaller. If your organization has over $1,000,000 in gross receipts then you’ll be fined $100 per day with a maximum penalty of $50,000!
How To E-File
Now we’re assuming that you would much rather have the extension than the penalties, so how exactly do you e-file Form 8868? It’s easy! Start by creating your free ExpressExtension account.
Then in the dashboard of your account click ‘Create Exempt Org Extension’ and follow our informational step-by-step guide that will help you correctly complete your form in only a few minutes.
First, you’ll be asked to enter in the basic information for your business, including the name, address, and EIN/Tax-ID. It’s important that this information matches what the IRS has on file, and you can verify it by calling the IRS directly at 1-877-829-5500. Then you’ll enter your tax year and which 990 form you usually file.
Then a summary of your information will be presented for you to check for errors and we will perform an audit check on your information to catch any basic errors.
Once you’ve edited your form to make any necessary corrections pay for your form and safely and securely transmit it directly to the IRS. Then in a matter of minutes once your extension has been approved you’ll be notified via email. Your dashboard will also contain live status updates about your form.
In the rare event that your form is rejected, you’ll be emailed with details as to why. Then you can easily log on to your account to correct your form and retransmit it to the IRS as many times as necessary for free.
We Will Lend Helping Hands
If you have any questions about the extension process please don’t hesitate to contact our outstanding support team. We will be happy to answer any questions that you may have and will even guide you through the e-filing process. We’re available Monday – Friday from 8:30 AM to 5:30 PM EST. We’re also available via live chat and offer 24/7 email support at email@example.com.