Latest news with #Form8868
Yahoo
13-05-2025
- Business
- Yahoo
Tomorrow Marks Major Tax-Exempt Deadline: ExpressExtension Helps Nonprofits File Form 8868 to Extend 990 Series Deadlines
Tax-exempt organizations can quickly file Form 8868 through ExpressExtension by May 15 to get an automatic six-month extension and avoid IRS penalties. ROCK HILL, SC / / May 13, 2025 / Tax-exempt organizations facing the May 15 IRS Form 990 deadline still have time to request an automatic extension by filing Form 8868. ExpressExtension, an IRS-authorized e-file provider, offers a fast and reliable way to file Form 8868 online and receive an additional six months to file key returns such as Form 990, 990-EZ, 990-PF, and 1041-A. Organizations that are not ready to file their original returns must submit an extension by midnight on May 15 to avoid penalties and maintain good standing with the IRS. While the extension grants more time to file, it does not extend the deadline to pay any taxes due. Who Can File Form 8868? Exempt organizations that need more time to file their Form 990, 990-EZ, or 990-T. Private foundations that file Form 990-PF or 990-T. Trustees of charitable trusts filing Form 1041-A ExpressExtension: A Trusted Solution for IRS Extension E-Filing ExpressExtension streamlines Form 8868 filing process, allowing tax-exempt organizations to complete and transmit extension requests in just minutes. Key features include: Quick, Guided Filing - A user-friendly platform to complete extensions with ease Copy Data from Previous Returns - Speeds up the process by reducing manual entry AI-Powered Help - On-screen assistance every step of the way Live U.S.-Based Support - Available by phone, email, or chat Exclusive Features Designed for Tax Professionals and High-Volume Filers ExpressExtension offers exclusive pro features designed to meet the needs of tax professionals and high-volume filers. Bulk Filing Capabilities: Tax professionals and other high-volume filers can save time by filing multiple extension requests simultaneously. Flexible Data Import: ExpressExtension offers customizable Excel templates to upload a large volume of client filing data with minimal effort. Efficient Client Management: A centralized dashboard helps tax professionals keep all client data organized and accessible. Volume-Based Pricing: ExpressExtension offers volume-based pricing options that enable high-volume filers to save more as they file more forms. To meet the May 15 deadline, tax-exempt filers are encouraged to submit Form 8868 electronically through before tomorrow. About ExpressExtension ExpressExtension is the one-stop solution for IRS Tax Extensions. As an IRS-authorized, SOC-2 Certified e-file provider, ExpressExtension has been helping businesses, individuals, and non-profit organizations to obtain IRS extensions for over a decade. Supported forms include Form 7004, 4868, 8868, and 8809. About SPAN Enterprises Headquartered in Rock Hill, South Carolina, SPAN has been developing industry-leading software solutions for e-filing and business management tools for over a decade. The SPAN Enterprises Portfolio of products includes TaxBandits, ACAwise, ExpressExtension, 123PayStubs, and TruckLogics. Please direct all media inquiries to Caleb Flachman, Marketing Manager, at caleb@ SOURCE: ExpressExtension View the original press release on ACCESS Newswire
Yahoo
12-05-2025
- Business
- Yahoo
The Biggest Form 990 Deadline of the Year (May 15) is Here: Tax990 Delivers Stress-Free Last-Minute Filing for Nonprofits
With the May 15 deadline approaching, Tax990 offers nonprofits fast, reliable filing solutions and expert support to ensure timely, accurate Form 990 submissions. ROCK HILL, SC / / May 12, 2025 / As the May 15 deadline approaches, thousands of nonprofit organizations across the country are making their final preparations to file Form 990. Tax990, an IRS-authorized e-file provider, supports organizations during this crucial period with reliable, last-minute filing options and dedicated support to ensure compliance and peace of mind. Who needs to file by May 15? Tax-exempt organizations that operate on a calendar year, from January 1 through December 31, must file their annual tax return with the IRS by May 15, 2025. This includes most public charities, private foundations, and other tax-exempt entities. Forms due, penalties, and extensions The May 15 deadline applies to a range of forms, including: Form 990-N (e-Postcard): For small nonprofits with gross receipts of $50,000 or less. Form 990-EZ: For nonprofits with gross receipts under $200,000 and total assets under $500,000. Form 990: Required for organizations with gross receipts of $200,000 or more or total assets of $500,000 or more. Form 990-PF: Filed by all private foundations. Form 990-T: Required for any exempt organization with $1,000 or more in gross income from unrelated business activities. CA Form 199: This applies to California nonprofits that obtained tax-exempt status from the Franchise Tax Board (FTB). Failing to file on time can result in daily penalties, and organizations that don't file for three consecutive years risk automatic revocation of their tax-exempt status. For nonprofits that need additional time, Form 8868 provides an automatic 6-month extension. The Tax990 Commitment Tax990 is dedicated to making nonprofit tax filing as simple and stress-free as possible through intuitive features, clear instructions, and expert support, backed by the Tax990 Commitment. Tax990 does everything in its power to ensure each 990 return gets approved by the IRS, which includes: Complimentary Extension Requests: If an organization needs more time, they can pay for their 990 upfront and file an 8868 at no additional charge and get an instant 6-month extension. Retransmit Rejected Returns: If the IRS rejects a return due to an error, Tax990 allows clients to fix the issue and retransmit at no added cost. No-Cost Amendments: If errors are discovered after IRS acceptance, clients can file up to 3 amendments at no additional charge. Money-Back Guarantee: If a return is rejected as a duplicate or cannot be fixed and retransmitted, Tax990 provides a full refund. Built for fast, accurate filing Tax990 goes beyond compliance-it's designed for convenience. With features built specifically for nonprofits, the platform enables faster preparation and greater accuracy: Option to Copy Data from Previous Returns - Even if last year's return was filed elsewhere. Easy Form Preparation - Form-based and interview-based filing options with a guided filing experience and on-screen tips. Free Schedules - Based on the data entered on the main form, Tax990 automatically includes the necessary 990 Schedules at no extra cost. Internal Audit Check - The Tax990 system incorporates built-in validations to catch common errors before submission. World-Class Customer Support - Based in the U.S. and ready to help via chat, email, or phone. AI Chatbot Assistance - Available 24/7 to answer common filing questions in real-time. With the May 15 filing deadline this week, Tax990 can help nonprofits navigate the season with confidence. Those required to file Form 990 can create a free account and get started at About Tax990 Tax990 is the premier, IRS-authorized e-file provider of nonprofit tax forms. Tax990 provides solutions for nonprofits that are required to file Form 990-N, 990-EZ, 990, 990-PF, 990-T, CA Form 199, 8868, 1120-POL, and 8038-CP with the IRS. With advanced features and affordable pricing, the goal of Tax990 is to help nonprofits file easily, so they can keep doing good. About SPAN Enterprises Based in Rock Hill, South Carolina, SPAN Enterprises has been developing industry-leading software solutions for IRS e-filing and business management tools for over a decade. The SPAN Enterprises portfolio of products includes TaxBandits, Tax990, ACAwise, ExpressExtension, and more. For all media inquiries, please contact Caleb Flachman, Marketing Manager, at Caleb@ SOURCE: Tax990 View the original press release on ACCESS Newswire Sign in to access your portfolio
Newsweek
25-04-2025
- Business
- Newsweek
IRS Issues Guidance For Those Facing May 15 Tax Deadline
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. As the May 15 filing deadline approaches, the Internal Revenue Service (IRS) is urging tax-exempt organizations to review filing requirements and avoid common mistakes that could result in penalties or loss of tax-exempt status. Why It Matters Failure to comply with filing requirements can lead to significant consequences, including automatic revocation of tax-exempt status. The IRS noted that three consecutive years of missed filings will result in such a revocation. Organizations can mitigate these risks by utilizing authorized e-file providers and ensuring that all schedules and necessary documents are included. The May 15 deadline serves as a critical checkpoint for nonprofits that operate on a calendar-year schedule, a majority of tax-exempt groups. Those who miss the filing deadline are subject to late penalties, and the IRS advises that submitting Form 8868 for a six-month extension can help organizations buy time to complete their returns properly. Signage for the Internal Revenue Service (IRS) is seen outside IRS headquarters in Washington, DC, on April 15, 2025. Signage for the Internal Revenue Service (IRS) is seen outside IRS headquarters in Washington, DC, on April 15, 2025. JIM WATSON/AFP via Getty Images What To Know The IRS emphasized that the filing due date for exempt organizations is the 15th day of the fifth month after the end of the organization's accounting period. For most groups, that translates to a May 15 deadline. Forms due include the Form 990 series (990, 990-EZ, 990-PF), Form 990-N for smaller organizations, Form 990-T for unrelated business income, and Form 4720 for certain excise taxes. E-filing requirements have expanded, meaning that even smaller organizations that file a Form 990-N must submit their returns electronically through the IRS website. Larger organizations must use an IRS-authorized e-file provider to submit Forms 990, 990-EZ, 990-PF, and 990-T for the 2023 tax year. The IRS also reminds filers that extending the filing date through Form 8868 does not delay any payments that may be due. Organizations with business income tax liabilities should make those payments on time to avoid accruing penalties and interest. Common filing errors include submitting incomplete forms, failing to attach required schedules, and using the wrong forms altogether. In such cases, the IRS will reject the return, and organizations must resubmit promptly to avoid being classified as not filing at all. What People Are Saying Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "One of the positive developments through the IRS in recent years is how the process for nonprofits having to file has become more online-friendly and easier to complete. Whether you file with a e-postcard or have to use one of the lengthier forms, May 15th is the deadline to make sure you meet. If you know your organization is going to fail to submit by that date, you need to make plans to file for an extension." Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek: "All tax-exempt organizations must still file their returns by the 15th day of the 5th month after the close of their tax year. But beyond that, there could be major changes on the horizon." "The current administration is closely examining how some organizations operate and there's growing concern that those involved in DEI initiatives could face scrutiny. While nothing has officially happened yet, we've already seen moves to challenge the tax-exempt status of private institutions like Harvard. This could signal a broader effort to reassess how certain organizations maintain their exempt status moving forward." Michael Ryan, a finance expert and the founder of told Newsweek: "Everything has to be filed electronically now, which IMO is actually a blessing in disguise. Electronic filing is so much faster, and you get that little confirmation right away instead of wondering if your forms are sitting in some mail room somewhere." What Happens Next The IRS filing deadline for tax-exempt organizations is May 15. The IRS also offers a free virtual workshop for nonprofits at "If you're feeling a little overwhelmed by all this and honestly, who isn't? The IRS actually has some decent free training resources," Ryan said. "I checked it out last year and it was surprisingly helpful."
