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IRS Filing Extensions For Form 990

By The NonProfit Times - May 6, 2013

Charities that operate on a calendar-year basis have until May 15 to file their Internal Revenue Service (IRS) Form 990 otherwise they can file an extension using Form 8868.

Form 8868 is used to request an automatic three-month extension to file a return and also to apply for an additional, non-automatic three -month extension if the original isn’t enough. Nonprofits cannot apply for both the automatic three-month extension and the additional non-automatic extension. The first extended due date for a calendar-year organization is Aug. 15 and the second extended due date is Nov. 15.

Charities with gross receipts and total assets of more than $200,000 and total assets of more than $500,000 are required to file Form 990. Organizations with fewer receipt and assets than those thresholds can file a Form 990 EZ.

Most organizations with annual gross receipts of $50,000 or less are required to electronically submit Form 990-N (e-Postcard), unless they choose to file a complete Form 990 or Form 990-EZ.

The IRS sends reminder notices to organizations that do not file the e-Postcard on time. There is no penalty for filing the e-Postcard late but an organization that fails to file required e-Postcards or information returns for three consecutive years will automatically lose its tax-exempt status. Revocation would occur on the filing due date of the third year.

The e-Postcard is due every year by the 15th day of the fifth month after the close of your tax year. For example, if your tax year ended on December 31, the e-Postcard is due May 15 of the following year. If the due date falls on a Saturday, Sunday, or legal holiday, the due date is the next business day. You cannot file the e-Postcard until after your tax year ends.

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