If you run a charity or non-profit organization, and you are classified as “tax exempt” under Section 501(a) of the Internal Revenue Code, you are probably familiar with IRS Form 990.
Form 990: Return of Organization Exempt from Income Tax
This form is used by charities and non-profits to report activities to the IRS each year. Form 990 has 12 pages and 12 parts, and requires the organization to provide details about donations, management, and pay structure.
You must file Form 990 for a tax-exempt organization if either of the following apply:
• The organization’s gross receipts are $200,000 or more for the year, or
• The organization’s total assets are $500,000 or more for the year
Form 990 is due by the 15th day of the 5th month following the close of the tax year (May 15 for calendar year taxpayers).
It is quite common for non-profit groups to be overwhelmed and understaffed, which means that getting a tax extension can really help. With extra time to file, you can make sure that your tax return is completed accurately and in compliance with the law. To get a tax extension for Form 990, use Form 8868.
Form 8868: Application for Extension of Time to File an Exempt Organization Return
If you run a tax-exempt organization — whether you’re a director, manager, or administrator — you may want to look at requesting a Federal tax extension. Charities and non-profit organizations can apply for a tax extension using Form 8868. There are two types of extensions that can be obtained with Form 8868:
• An automatic 3-month tax extension (6 months for corporations filing Form 990-T)
• An additional (not automatic) 3-month tax extension
To request the automatic 3-month extension, only fill out Part I of Form 8868. As long as you properly complete and file Form 8868 by the deadline, you will be granted the automatic extension. To apply for the additional (not automatic) 3-month extension, only fill out Part II of Form 8868. Note that you cannot apply for both the automatic and additional tax extensions at the same time.
As you go over Form 8868, you’ll notice that the IRS requires you to provide a reason for needing the tax extension. This requirement is different than the rules for requesting a personal extension (Form 4868) or a business extension (Form 7004). Also remember that you must still pay any tax balance due by the original deadline.
For more information about tax-exempt organizations, see IRS Publication 557 (Tax-Exempt Status for Your Organization) and IRS Publication 4221-NC (Compliance Guide for Tax-Exempt Organizations). If you have any questions, feel free to contact our Support Team.
Want a Faster Way to File Your Tax Extension?
eFile your federal Personal or Business Extension in just 5 Minutes! The eFile process includes 24/7 live support and immediate IRS approval. Start today and be done in minutes.
Related Tax Resource
Helpful articles for deadline extension
Tax Extensions for State Returns
In most cases, yes, you can get a state tax extension in addition to...Read more
Tax Extensions for S-Corps
Overview An S-Corporations is an entity where a corporation's profit or loss is "passed through"...Read more
Over 100 Reasons to Get a Tax Extension!
Are you looking for a good reason to file a tax extension? Even though...Read more
Tax Extension Guidelines
Federal Personal Tax Extension If you don’t think you can file your taxes on...Read more
IRS Interest, Late Fees, and Penalties
Getting a personal tax extension means you will have an additional 6 months to...Read more
When Should You File for a Tax Extension?
A tax extension gives you additional time to file your return. The length of...Read more
Tax Extension ResourcesRead more
Personal Tax Extension Forms and Deadlines
Which Tax Extension Form Should You Use? IRS Form 4868 Tax Form 4868, provided...Read more
Income Tax Extensions Q & A
Do you have a question about tax extensions that you want to ask? At...Read more
Flexible Tax Extensions Available for the U.S. Military
The IRS provides accommodating tax extensions for members of the U.S. military in appreciation...Read more
IRS Tax Extension Form 7004 (Business)
IRS Tax Form 7004 is an application you can file to get an automatic tax...Read more
IRS Form 4868: How to fill out the tax extension form?
Like all aspects of tax filing, filling out Tax Form 4868 can be a bit...Read more
Income Tax Extensions: Common Misconceptions
When it comes to filing and paying your taxes, you can never have too...Read more
Why You Should File a Tax Extension
Getting a tax extension is easy. In fact, millions of taxpayers file tax extensions...Read more
Will a Tax Extension Trigger a Tax Audit?
Tax extensions are becoming increasingly popular in the United States, for both individuals and...Read more
IRS Tax Extension Form 4868 (Individuals)
If You Cannot File Your Taxes on Time, IRS Form 4868 is an Application to...Read more
Tax Extensions for Individuals
If you are filing your taxes in the U.S., one of the most important...Read more
IRS Form 7004: How to fill out the tax extension form?
Do you need to complete a business tax extension application, IRS Form 7004? We have...Read more
Avoid These Tax Extension Mistakes
It’s easy for things to get complicated whenever you’re dealing with taxes and the...Read more
The Advantages of a Tax Extension
Applying for a tax extension can be a very smart choice. A tax extension...Read more
Personal Tax Extensions: The Basics
If you are planning to request a tax extension for filing your personal income...Read more
Online Tax Extensions: Quick and Easy!
Getting a tax extension is easy and it takes only minutes when you use...Read more
Pay Your Taxes with Your Extension
As you are preparing to apply for a Federal tax extension, you should keep...Read more
Top 5 Reasons to File Your Tax Extension Online
The U.S. tax system gets more complex every year, with new regulations and guidelines...Read more
The Benefits of a Tax Extension in a Slow Economy
These days, many American are struggling financially as our economy remains stagnant and unemployment...Read more
Tax Extensions for LLC’s
An LLC or Limited Liability Company is a business structure designed to separate the LLC's...Read more
Tax Extension Tips
If you’ve never applied for a tax extension before, the process can seem a...Read more
Tax Extensions: Terms and Definitions
Do you ever feel like the IRS is speaking an entirely different language? When...Read more