Form 8868 : Nonprofit Tax Extension (An Complete Guide) - PowerPoint PPT Presentation

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Form 8868 : Nonprofit Tax Extension (An Complete Guide)

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IRS Form 8868 is a tax extension form that nonprofit organizations and tax-exempt entities can use to request an automatic 6-month extension for filing their 990 returns. – PowerPoint PPT presentation

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Date added: 21 January 2025
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Title: Form 8868 : Nonprofit Tax Extension (An Complete Guide)


1
Form 8868 Nonprofit Tax Extension
  • An Complete Guide

803-514-5155
support_at_expressextension.com
2
What is IRS Form 8868?
  • IRS Form 8868 is a tax extension form that
    nonprofit organizations and tax-exempt entities
    can use to request an automatic 6-month extension
    for filing their 990 returns. The IRS does not
    require an explanation to approve this extension
    request.

3
Who Can File Form 8868?
  • Typically, Form 8868 can be filed by tax-exempt
    organizations, nonexempt charitable trusts,
    private foundations, and certain other trusts
    that need additional time to file their annual
    IRS returns.

4
What Information is Required to Fill Out Form
8868?
  • To file Form 8868, you'll need basic details like
    your organization's name, address, and EIN.
    Additionally, you'll need to provide
  • The type of tax form for which you're requesting
    an extension
  • The total tax liability and any payments made
    during the tax year
  • Any balance due to the IRS
  • For further information, refer to the Form 8868
    instructions at
  • Form 8868 Instructions

5
When is the Deadline to File Form 8868?
  • Form 8868 must be filed before the original
    returns due date. For example, if your
    organization files Form 990, the extension must
    be requested by the 15th day of the 5th month
    after the end of your fiscal year.
  • For organizations following the calendar year,
    the deadline to file Form 8868 will be May 15,
    2025.

6
How Do I E-File Form 8868?
  • Heres how to easily e-file Form 8868
  • Enter your organizations details
  • Select the type of return you want to extend
  • Choose your organization's tax year
  • Review the form and correct any errors
  • Pay and submit the form to the IRS

7
What Are the Late Payments Filing Penalties?
  • Organizations may face a penalty of 0.5 of any
    unpaid tax amount for each month the filing is
    late, unless they can demonstrate a valid reason
    for the delay.
  • Failure to file the information return on timeor
    failing to request an extension (Form 8868)may
    result in a late filing penalty, unless a
    reasonable cause is provided.

8
E-File Form 8868 with ExpressExtension in
Minutes!
  • ExpressExtension is an IRS-authorized e-file
    provider for IRS tax extension forms. Our
    user-friendly, step-by-step filing process
    ensures a smooth filing experience. Once you
    submit the form, youll receive updates on its
    status until the IRS accepts it. If the IRS
    rejects the form, well provide the reason and
    allow you to correct and retransmit it at no
    extra cost. Plus, our live customer support team
    is ready to assist you via phone, email, or live
    chat.
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