2. IRS TAX EXTENSION FORM 8868
Exempt Organizations Tax Extension From 8868 can extend your IRS
income tax deadline for your tax exempt or nonprofit organization.
You would first file Part I, which will automatically extend the filing
deadline for 3 months.
If you need additional time you would e-file Part II; only file Part II if
you have already been granted and automatic 3 month extension on a
previously filed Form 8868. “The deadline to file this extension is May
15th".
3. AUTOMATIC EXTENSION
The First Part of a Exempt Tax extension is an Automatic 3 Month
Extension of Time to File. Unless a Non-Profit Organization files a Form 990-
T, the first part will only extend the deadline by 3 months.(990-T extends
the deadline for 6 months).
4. NOT-AUTOMATIC EXTENSION
The Second Part of this form is an additional 3 month tax extension.
This additional extension can only be filed if the organization has already
been granted the first 3 month extension.
5. WHO CAN FILE FORM 8868 ?
Public Charities
Private Foundations
Other Non-Profits.
Any tax-exempt organization that has registered with the IRS may file Form
8868. Should an organization have questions about their tax-exempt
status, they should contact the IRS immediately as any submitted 8868 forms
by unregistered organizations will come back rejected.
6. E-FILING FORM 8868
E-filing is a paperless, online option provided by third-party vendors for the
IRS Form 8868. The IRS recommends e-filing due to the quick response time
of the IRS system and the substantial decrease in user errors.
An organization does not need to register as an e-file with the IRS
provided that they are using an IRS-Authorized e-filing service provider,
such as www.expressextension.com.
Once the form has been submitted to the IRS, the organization
should receive a response in around 15 minutes. Since the process is
online, the filer may submit forms at their leisure and without wasting
precious time and money.
7. HOW DO I FILE FORM 8868?
Form 8868 may be paper filed via mail with the IRS, but
organizations are suggested to file electronically instead. E-filing Form
8868 may be done on IRS-Authorized e-filing websites, such as
www.expressextension.com
E-filing is faster, safer, and generally less expensive than the paper
alternative.
In order to e-file, the organization will need to create an account
with a site, fill out their information, and pay any fees the provider
may charge. Filers should hear back from the IRS in around 15
minutes.
8. WHICH FORM CAN BE EXTENDED WITH FORM 8868?
All Forms 990 can be extended by Form 8868. This includes, but is not
limited to, Forms 990-N, 990-EZ, and 990 etc.., The filer will select on the
extension form what type of tax-exempt organization they are filing
for, along with general information about the organization.
9. WHAT IS A “SMALL" TAX-EXEMPT ORGANIZATION?
A small tax-exempt organization is one that grosses $50,000 or less in
receipts throughout the year. These organizations may file Form 990-N, the e-
Postcard, which is a condensed version of Form 990 and may only be filed
online.
10. LATE PAYMENT PENALTY
Generally, a penalty of ½ of 1% of any tax not paid by the due date is
charged for each month or part of a month that the tax remains unpaid. The
penalty cannot exceed 25% of the amount due. The penalty will not be
charged if you can show reasonable cause for not paying on time.
11. LATE FILING PENALTY
A penalty is charged if the return is filed after the due date (including
extensions) unless you can show reasonable cause for not filing on time. The
penalty is 5% of the tax not paid by the regular due date for each month or
part of a month that the return is late, up to a maximum of 25% of the unpaid
tax. For an income tax return filed more than 60 days late, the minimum
penalty is $100 or the balance of the tax due on the return, whichever is
smaller.
12. LATE FILING PENALTY
A penalty is charged if the return is filed after the due date (including
extensions) unless you can show reasonable cause for not filing on time. The
penalty is 5% of the tax not paid by the regular due date for each month or
part of a month that the return is late, up to a maximum of 25% of the unpaid
tax. For an income tax return filed more than 60 days late, the minimum
penalty is $100 or the balance of the tax due on the return, whichever is
smaller.
13. CONTACT US:
The next upcoming tax deadline is May 15th for Tax Exempt and Nonprofit
organizations. If you need more time to file you can easily transmit IRS Form
8868 to the IRS through ExpressExtension.com. You can contact our US-based
support team, located in Rock Hill, SC with any questions you may have about
e-filing an extension via phone: 803.514.5155 or email:
support@expressextension.com
