Preparing for your nonprofit’s Form 990 deadline can get stressful but it doesn’t have to be rushed. Unlike planning for the holidays, this is something you can push off a little bit if you need to. If your organization needs more time to file, you can use IRS Form 8868 to request an extension.
What is Form 8868
Tax-exempt organizations that need to file Form 990 use Form 8868 to request an automatic six-month extension from the IRS. You don’t have to explain your situation or experience any special circumstances to qualify.
When is Form 8868 Due?
You need to file Form 8868 on or before your Form 990 deadline in order to receive an extension. After that deadline passes, you can no longer ask for more time.
Many nonprofits are getting ready to meet the December 15, 2020 Form 990 due date. If your not sure when your organization’s IRS Form 990 filing deadline is, click here and we’ll check for you.
Can All Nonprofits Extend Their Form 990 Deadline?
Form 8868 is an option for all 990 series forms except for 990-N.
6 months is the maximum extension the IRS offers for tax-exempt organizations’ Form 990 deadlines. That means if your organization already received an extension and now the new due date is coming up, you won’t be able to request additional time. If filing an extension isn’t an option for your organization this year, click here for everything you need to know to get prepared for your Form 990 deadline.
How to Complete Form 8868
It’s easy to complete Form 8868 before your Form 990 deadline when you e-file. Here’s what you need to do:
1- Enter your organization’s name and EIN.
2- Select the 990 series form you need to extend.
3- Choose your organization’s tax year.
4- Review your return and correct any errors.
5- Transmit your Form 8868 to the IRS.
If requesting an extension is part of your filing process, you can choose our Bundle option to receive both forms for a discounted rate. Click here for more on requesting an extension with Form 8868.
E-filing Form 8868
If you’re trying to decide how to file Form 8868 for your nonprofit organization, you should know that the IRS recommends e-filing. Especially when you’re on a time crunch, trying to transmit your form before the deadline and avoid IRS penalties, cutting out mailing lags and extra wait time can be a game-changer. When you file Form 8868 online, the IRS receives your extension request instantly.
Click here for more information about how to avoid IRS penalties this year.
Don’t risk last-minute mistakes or put unnecessary pressure on yourself this season. We’re here to help you file Form 990 easily or request an extension before your deadline.