Extend Your Tax-exempt Filing Deadlines With ExpressExtension: Before It’s Too Late

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While many of the major tax deadlines have already passed, there’s still one more important date approaching this month. Yes, May 15 is the big deadline for tax-exempt organizations, private foundations, and nonprofits with excise taxes to file their annual return, typically a series of Form 990. This is a key filing obligation, and missing it can lead to costly penalties from the IRS, even if your organization doesn’t owe any taxes.

If you’re worried about meeting the deadline, don’t stress—Form 8868 is here to save the day. Whether you’re running short on time or just need a little more breathing room, filing for an extension can give you the extra six months you need to get everything right. 

Keep reading to see how Form 8868 can help you extend your filing deadline and avoid those costly penalties—fast and easy with ExpressExtension!

Understanding Form 8868

Form 8868, officially known as the Application for Extension of Time to File an Exempt Organization Return or Excise Taxes Related to Employee Benefit Plans, allows tax-exempt organizations and private foundations to request additional time to file their annual returns.

By filing Form 8868, you’ll automatically receive an extra 6 months to complete your filing, shifting your deadline from May 15 to November 15. This extension gives you the breathing room needed to file accurately and on time.

The best part? The extension is automatic—no need to explain or justify anything to the IRS.

Who Can File Form 8868?

Usually, if your organization has received tax-exempt status from the IRS, you are required to file the Form 990 series along with other annual returns. If you need more time to file, Form 8868 allows you to request an extension. Here’s who can file this extension form:

• Exempt organizations
• Nonexempt charitable trust
• Small Nonprofit Organizations
• Private Foundations
• Tax-Exempt Organizations with Unrelated Business Income
• Nonprofits with Excise Taxes

Tax Forms Covered by Form 8868

If your organization fits into one of the categories mentioned earlier and you’re unable to meet the May 15 deadline, filing Form 8868 grants you an automatic six-month extension. This gives you the extra time needed to file your return properly. The IRS extension applies to several forms, including:

• Form 990
• Form 990-EZ
• Form 990-PF
• Form 990-T (For sec. 401(a) or 408(a) trust, other trusts, and corporations)
• Form 990-T (Governmental entities)
• Form 4720 (For individuals and other than an individual)
• Form 1041-A
• Form 5227
• Form 6069
• Form 8870 (Paper filing)
• Form 5330 (individual and other than individuals)

Why Filing an Extension is Important?

Filing an extension form grants you more time to file your original tax forms without facing penalties for the delay in submission. But, keep in mind that this extension has ONLY extended the filing deadline – it doesn’t extend your tax payment deadline. So, make sure to plan accordingly!

Key Considerations When Filing for an Extension

Filing for an extension using Form 8868 is a straightforward process, but there are a few key factors to keep in mind to ensure everything goes smoothly. Here’s what you need to consider:

• Accurate Information: Double-check your organization’s name, EIN, and details to match IRS records and avoid delays.
• Correct Extension Form: Choose the correct extension form to extend your original tax return deadline. Using the wrong form may lead to rejection.
• Right Form Code: Ensure you enter the correct form code for your return to avoid processing issues.

The Importance of Meeting the Filing Deadline

While filing for an extension gives you more time to complete your Form 990 and other required returns, it’s crucial to remember that the extended deadline must still be met. Even with an extension, your tax-exempt organization is expected to file the necessary forms by the new due date to stay in compliance with IRS requirements.

To ensure a smooth filing process, be sure to:

• Submit Form 8868 before the May 15 deadline to request the extension.
• File your complete Form 990 or other applicable returns by the extended deadline (usually November 15).
• Double-check the accuracy of your forms to avoid delays or complications.

By staying on top of these dates, your organization can avoid complications and keep its tax-exempt status in good standing.

Don’t Wait –Get It Done Fast with ExpressExtension

Why wait until the last minute when you can file your extension quickly and easily with ExpressExtension? With just a few clicks, you can file your Form 8868 and get that extra six months to submit your tax-exempt organization’s returns. The process is quick, secure, and efficient, helping you stay on track with the IRS deadline without the hassle.

And that’s not all! Our sister product, Tax990, is here to make the filing of your 990 forms as seamless as the extension process. Both ExpressExtension and Tax990 are here to help you manage your filings easily and on time.

So, don’t wait—file your extension with ExpressExtension and take the stress out of your tax filing process.