The IRS reminded tax-exempt organizations about the May 16, 2022, filing deadline for many of them. Those tax-exempt organizations that operate on a calendar-year basis have to file the following returns with the IRS:
- Form 990-series annual information returns, including Form 990, Return of Organization Exempt From Income Tax, Form 990-EZ, Short Form Return of Organization Exempt from Income Tax and Form 990-PF, Return of Private Foundation.
- Form 990-N, Electronic Notice (e-Postcard) for Tax-Exempt Organizations Not Required to File Form 990 or Form 990-EZ.
- Form 990-T, Exempt Organization Business Income Tax Return.
- Form 4720, Return of Certain Excise Taxes Under Chapters 41 and 42 of the Internal Revenue Code.
Further, the IRS informed that organizations filing a Form 990, 990-EZ, 990-PF or 990-T for calendar-year 2021 must file their returns electronically. Private foundations filing a Form 4720 for calendar-year 2021 must file the form electronically. Charities and other tax-exempt organizations can file these forms electronically through an IRS authorized e-file provider. Organizations eligible to submit Form 990-N must do so electronically and can submit it through Form 990-N on IRS.gov. Additionally, the IRS reminded organizations that if an organization’s return is incomplete or the wrong return for the organization, it will be rejected. Common errors include missing or incomplete schedules.
Finally, the IRS informed that tax-exempt organizations can request a six-month automatic extension by filing Form 8868, Application for Extension of Time to File an Exempt Organization Return. In situations where tax is due, extending the time for filing a return will not extend the time for paying tax.