What is a non-profit organization?

Tax-exempt organizations, commonly called non-profits or not-for-profits, are organizations granted a special tax exempt status by the IRS, However, the terms "non-profit" and "tax-exempt" differ slightly in their definition. "Non-profit" is used to describe the type of organization, while "tax-exempt" is used to describe the tax status of the organization.

In order to receive this status, the organization must file Form 1023 or 1024 with the IRS and receive a confirmation from them. Tax-exempt organizations file an annual report of their operations, finances, activities, and management to the IRS by using Form 990. Non-profits typically file as a Section 501(c)(3) organization.

The deadline to file a Exempt Organization is May 15, 2023 for the organization filing for a calendar tax year. For organizations not filing on a calendar tax year basis, the due date is the 15th day of the 5th month after their tax year end date.

What is a Form 8868 automatic extension?

The IRS grants an automatic extension for tax-exempt organizations filing Form 8868 for their tax year. There are no explanations required to request an automatic extension, and the IRS recommends that any organization should file an extension if they are going to miss the original filing deadline. E-file Extension Form 8868, and the IRS will automatically grant you the additional time to file your nonprofit tax return.

Note : IRS has now merged the Automatic and Not Automatic Extensions to a single 6-Month Automatic Extension form for the current
2022 tax year.

Applicable Forms which can apply for extension using IRS Form 8868

  • Form 990
  • Form 990-EZ
  • Form 990 BL
  • Form 4720 (individual)
  • Form 990 PF
  • Form 990-T (sec. 401(a) or 408(a) trust)
  • Form 990-T (trust other than above)
  • Form 990-T (corporation)
  • Form 1041 A
  • Form 990 BL
  • Form 5227
  • Form 6069
  • Form 8870
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How Do I extend my nonprofit tax return deadline using Form 8868?

Form 8868 may be paper filed via mail with the IRS, but organizations are suggested to file electronically instead. E-filing Form 8868 may be done on IRS-Authorized e-filing websites, such as www.expressextension.com.

E-filing is faster, safer, and generally less expensive than paper filing. In order to e-file, the organization will need to create an account with a site, fill out their organization's information, and pay any fees the provider may charge. Filers should hear back from the IRS in around 15 minutes regarding the status of acceptance from the IRS.

Truth about Filing A Tax Extension

Taxes are inevitable, and they must be paid. However, you can actually file an extension Form with the IRS. The IRS estimates that over 10 million individuals and businesses will file for a Tax Extension this year by filing IRS tax extension Forms.

There are several popular myths about filing a tax extension that need to be addressed:

Myth : A Tax Extension will delay the time you have to pay taxes.

Fact : Taxes Must Be Paid On Time! A Tax Extension extends the amount of time to file a tax return.

This means that you have more time to prepare all of your tax-related documents and get the most out of your credits and refunds.

Myth : The IRS will impose penalties for filing a tax extension.

Fact : The IRS will not penalize you as long as your application for extension is not late and your taxes are paid on time.

Myth : The IRS requires a reason to file a tax extension.

Fact : IRS Form 8868 contains no questions inquiring why a tax extension is necessary. The form is very straightforward and easy to figure out.

About ExpressExtension

Filing an extension with Form 8868 has become much easier and quicker. This is because the option to E-File has become more and more popular as compared to traditional paper filing. There are several online options for filing a Form 8868 with the IRS. One of the easiest and cheapest is www.ExpressExtension.com. This allows you to E-File Form 8868 from your home or office. There is no need to go anywhere, mail anything, or worry about whether it gets there on time.

Contact Us

On top of all that, ExpressExtension also offers top notch customer support from their US-Based Customer Support center in Rock Hill, SC. For any questions you can email support@expressextension.com or call them at 803.514.5155