This is a guest post by Ariel Black, Content Marketing Manager for SPAN Enterprises.
If your organization is required to file by the July Form 990 deadline and needs more time to file 990 online, your best bet for avoiding IRS penalties is to file a tax extension. You may have recently asked yourself, “When is Form 990 due?” With today being the last day to e-file IRS Form 8868, here is how to file the Form 990 extension before it is too late.
How IRS Form 8868 Helps Tax-Exempt Organizations File At The Last Minute
Despite the reason for needing additional time, the IRS will automatically grant you a six-month
extension of time to file IRS Form 990, your nonprofit tax return. Also, the application process is quick, easy, and you will likely receive approval within the hour.
IRS Form 8868 Nonprofit Tax Return Extension
If you need more time to file IRS Form 990, ExpressExtension has your back. You can use our quick and easy e-filing guide to instantly file an IRS Form 990 extension, the Exempt Organization Tax Extension Form! Zero hassle involved, simply follow our step-by-step instructions to transmit this form directly to the IRS.
The Form 990 extension due date for tax-exempt organizations with a fiscal tax year that starts in March, is July 15th. Since the 15th of this month fell on a Sunday, you have until midnight of July 16 to file a Form 990 or IRS Form 8868 extension.
What Happens If I Fail To File?
So, what happens if you don’t file your IRS Form 990? If you fail to file or submit your form late, there is a $20 penalty per-day up to $10,000 or five percent of your organization total gross receipts.
Sounds like a big mess, right?… Moral of the story — you need to e-file a Form 990 extension using IRS Form 8868 by midnight. That’s all I am going to say.