Your Ultimate Guide to IRS Form 8868: Understanding Due Dates and Extensions

If you’re managing a nonprofit organization, keeping track of IRS filing obligations is essential. Missing a due date for filing tax returns can lead to penalties that strain your organization’s resources. Fortunately, IRS Form 8868 offers an easy way to extend the due date of your tax-exempt return. This article provides you with everything you need to know about the Form 8868 due date, how to apply for an extension, and why it’s crucial for tax-exempt organizations.

What is IRS Form 8868?

IRS Form 8868 allows nonprofits and tax-exempt organizations to request an automatic 6-month extension to file their annual tax return, usually for forms like the 990, 990-EZ, and others. This extension gives organizations more time to gather financial documentation and complete their tax filings accurately.

Filing Form 8868 provides a single, automatic 6-month extension, simplifying the process.

When is the deadline for filing Form 8868?

The due date for filing Form 8868 depends on the fiscal year of your organization:

• Calendar Year Filers: For nonprofits whose fiscal year ends on December 31, the due date for filing Form 8868 is May 15. Filing Form 8868 extends the due date for tax filing to November 15.
• Fiscal Year Filers: Organizations with a fiscal year-end other than December 31 must file Form 8868 by the 15th day of the 5th month after the close of their fiscal year. For instance, if your fiscal year ends on June 30, the due date for Form 8868 is November 15, and filing Form 8868 extends the due date for tax filing to May 15 of the following year.

How to File Form 8868 to Extend Your Due Date

There are two ways to submit Form 8868:

• E-filing: The easiest and most efficient option is e-filing through IRS-authorized providers like 990.tax. E-filing ensures quick processing, provides immediate confirmation, and helps reduce errors.
• Paper filing: While e-filing is recommended, you can still mail Form 8868. However, ensure you send it well before the original due date, allowing time for delivery and IRS processing.

It’s important to note that filing Form 8868 only extends the due date to file the return. Any taxes owed must still be paid by the original due date to avoid penalties.

Common Reasons Nonprofits Request an Extension

Nonprofits often face challenges that make it difficult to meet the original filing deadlines:

• Incomplete financial records: Many nonprofits rely on external funding, including grants and donations, which can take time to account for accurately.
• Leadership transitions: Changes in the board or financial leadership can delay the preparation of required tax documents.
• Delays from third parties: Nonprofits often rely on banks, brokers, or other entities for essential tax documentation, and delays from these parties may necessitate an extension.

By filing Form 8868, nonprofits can avoid the pressure of rushing to meet deadlines and ensure that they submit accurate, fully compliant tax returns.

Benefits of E-filing Form 8868 with 990.tax

At 990.tax, we offer an easy-to-use, secure platform to e-file Form 8868 and other IRS forms. Our step-by-step process ensures that you meet the IRS’s requirements, and our automated error-checking feature minimizes the risk of rejected returns.