We’re in the last three months of the year. And just like every year, the final extended deadline for exempt organizations rolls around like clockwork.
For nonprofits and charities who filed extensions throughout the year, you still have a little over a month to file your tax return before November 15.
Which Organizations Must File?
Not every tax-exempt organization has the same final deadline – it depends on your tax year period and which forms you submitted during various due dates. Your exempt organization is required to file before November 15 if it fits each of the following criteria:
- Operates on a Calendar Tax Year (January 1 to December 31)
- Filed IRS Form 8868 Part I for the original May 15 deadline
- Filed IRS Form 8868 Part II for the extended August 15 deadline
There are no other extension options after Form 8868 Part II, so you can either file on time or file late with possible IRS penalties.
Important: If November 15 is the original filing deadline for your organization, then you still have a choice of filing for an extension; however, your Fiscal Tax Year must be from July 1 to June 30.
Which Forms to File?
Exempt organizations must submit an IRS 990 form every year based on their gross receipts.
- IRS Form 990 – Tax-exempt organizations with over $200,000 in gross receipts
- IRS Form 990-EZ – Tax-exempt organizations with over $50,000, but less than $200,000 in gross receipts
- IRS Form 990-N (e-Postcard) – Tax-exempt organizations with less than $50,000 in gross receipts
For the final extended deadline, you’re either filing the Form 990 or Form 990-EZ because there are no options for extending a Form 990-N (e-Postcard) filing.
If you fail to file on time, your organization could get charged $20 for each day your form is late, or a $100 daily charge if gross receipts are over $1 million. Maximum fees can reach up to $50,000 or 5% of your gross receipts.
As mentioned earlier, there are no extensions available after the November 15 deadline. If you file an incomplete form, the IRS will consider it a late return and charge penalties. If you file on time, but your form gets rejected, you have a 10-day grace period to file again.
With ExpressTaxExempt.com, our cloud-based service has everything you need to securely e-file your 990 form quickly and easily than paper filing. Let us streamline your filing experience – even if your form gets rejected, we can identify the issue, let you correct it, and re-transmit to the IRS instantly with no extra charges!
Contact our U.S. – based, e-filing experts at 704.839.2321 – Monday through Friday from 9 a.m. to 6 p.m. EST – for questions or assistance with transmitting to the IRS. We also offer email support with support@ExpressTaxExempt.com.