Tax season is not over simply but. Tax-exempt organizations with a calendar year-end (December 31) should file a return or request an extension by Might 15, 2023.

Due Dates

The annual submitting due date for the Type 990-series (Kinds 990, 990-EZ and 990-PF, Type 990-N (the e-postcard), Type 990-T and Type 4720 are usually by the fifteenth day of the fifth month after the top of the accounting 12 months. For a corporation with a December 31 year-end, that is Might 15. Different organizations could must do some math.

Extensions

Tax-exempt organizations that want further time to file can request a six-month computerized extension by submitting Type 8868. As with people, extending the time to file would not prolong the time to pay if any tax is due.

Submitting Electronically

Many types have to be filed electronically, together with the 990 collection and the e-postcard. The IRS will ship again returns filed on paper that ought to have been e-filed and reject electronically filed returns which can be materially incomplete or use the fallacious type. When you have questions on how (and which type) to file, assessment the directions or test along with your tax skilled.

Who Has To File?

The annual submitting necessities apply to most tax-exempt organizations, even when you do not have vital exercise. Some exceptions apply—you’ll be able to test the listing of these right here.

E-Postcard

Small tax-exempt organizations that qualify could file Type 990-N as an alternative of Type 990 or Type 990-EZ. These organizations can file Type 990-N if their annual gross receipts are usually $50,000 or much less. Gross receipts imply the overall quantities the group acquired from all sources throughout its annual accounting interval, with out regard for prices or bills.

Some organizations can’t file Type 990-N even when their gross receipts are $50,000 or much less. These embody personal foundations, supporting organizations, political organizations (part 527), and some others. Yow will discover an extended listing of these right here.

To file your Type 990-N, you will need to create an account (if you have not already) and file utilizing the IRS internet web page. The IRS requires that you simply file utilizing a pc, particularly advising, “Don’t use a smartphone or pill to file your Type 990-N.” The IRS has created a person information for many who want a little bit steerage.

It is value noting that as of as we speak, April 23, the Type 990-N internet web page is “unavailable as a result of system upkeep.”

Type 990-N could be very straightforward to finish—there isn’t any math! You will want your EIN, tax 12 months, and call info. You will additionally want the title and deal with of a principal officer, and a web site deal with, if any. Then, verify that the group’s annual gross receipts are $50,000 or much less and submit.

Auto-Revocation

It is vital to well timed file. Organizations that fail to file required Kinds 990, 990-EZ, or 990-N for 3 consecutive years will mechanically lose their tax-exempt standing. Revocation of the group’s tax-exempt standing will occur on the submitting due date of the third consecutively-missed 12 months.

It is significantly vital to file on time this 12 months. Organizations that may have closed or slowed down briefly throughout the pandemic may need missed submitting obligations. If that occurred in 2021 or 2022, you’ll be in danger for auto-revocation in 2023. Should you lose your tax-exempt standing, the group is chargeable for all revenue, excise, or different taxes and penalties that will have been owed when your standing was revoked. Your group can even be liable for any future tax liabilities that accrue as a result of your group’s lack of exemption.

You’ll be able to search on-line if you cannot bear in mind whether or not you’ve got filed (and you do not have a affirmation in your information).

Extra Info

Should you want extra info, the IRS has created a internet web page for tax-exempt organizations which presents extra sources.