Warning: Is Your Tax Exempt Status AT RISK?

As we quickly move along through this year’s tax season, the next major IRS deadline is for exempt organizations, charities, and nonprofits. According to the IRS, those with tax-exempt organizations are required to report their gross receipts each year with the 990 series forms. While there are many federal forms about nonprofits and such, there a three main tax forms that follow in the 990 series:
  • Form 990-N (e-Postcard) – federal tax return for exempt organizations with gross receipts less than $50,000 (electronic file only)
  • Form 990-EZ (Short Form) – federal tax return for exempt organizations with gross receipts over $50,000, but less than $200,000, and with total assets less than $500,000 (electronic or paper file)
  • Form 990 (Long Form) – federal tax return for exempt organizations with gross receipts greater than $200,000, and total assets greater than $500,000 (electronic or paper file)

When to File:
Typically, exempt organizations have to file by the 15th day of the 5th month after the end of their tax period. For those operating on a Calendar Tax Year, the deadline is May 15, or rather May 16, 2016, because the former is on a Sunday. If you operate on a Fiscal Tax Year, your deadline will vary based on your tax year end date.

For more about tax year dates for exempt organizations, check out the following blogs:
What Is A Fiscal Year
Find Your Tax Year Dates
What is an Accounting Period

Extension Form 8868
If your organization isn’t able to make the filing deadline, there is IRS Form 8868, which can extend your due date. Unlike other tax extension forms, this one is broken down into two different types:

  • Part I – Automatic 3-Month Extension
  • Part II – Additional, Non-Automatic 3-Month Extension

Important: To file Part II, you need to have submitted and been approved for Part I; you also need to provide a reason as to why you need the additional time. The Extension Form 8868 can extend time to file the 990/990-EZ, 990-PF, or 990-T – it is not applicable to the e-Postcard.

E-filing your exempt organization tax extension with ExpressExtension is as simple as 1-2-3 – all you need to do is enter your organization details, choose your tax year period, select which tax exempt form you typically file, choose the extension type you need (Part I or II), then authorize and transmit to the IRS.

You can also e-file the same extension form through our affiliate site, ExpressTaxExempt.com – the #1 online, e-filing solution for exempt organizations. Afterward, you can use the site to also e-file your 990/990-EZ – that way, your extension and tax form are conveniently stored within one account.

For any questions or assistance needed with your tax extension, call our live, US-based e-filing experts; there’s no phone tree or dial menus to shuffle through – just pick up, call, and speak to a real person. We’re available at (803) 514-5155, Monday through Friday, from 9 a.m. to 6 p.m. EST. We also support 24/7 email with [email protected].

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