(225) 273-0000
Mon-Fri: 8am - 5pm
10500 Coursey Blvd Suite 108, Baton Rouge, LA 70816

News & Updates

April 21, 2022
   |    
Courtesy of: 
IRS

May 16 is filing deadline for many tax-exempt organizations

Mandatory electronic filing

Electronic filing provides fast acknowledgement that the IRS has received the return and reduces processing time, making compliance with reporting requirements easier.

Organizations filing a Form 990, 990-EZ, 990-PF or 990-T for CY2021 must file their returns electronically. Private foundations filing a Form 4720 for CY 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 (e-Postcard) on IRS.gov.

"To help exempt organizations comply with their filing requirements, the IRS provides a series of pre-recorded online workshops," said Robert Malone, Exempt Organizations and Government Entities Director. "These workshops are designed to assist officers, board members and volunteers with the steps they need to take to maintain their tax-exempt status, including filing annual information returns."

Common errors

The IRS also reminds organizations to submit complete and accurate returns. If an organization's return is incomplete or the wrong return for the organization, the return will be rejected. Common errors include missing or incomplete schedules.

Extension of time to file

Tax-exempt organizations that need additional time to file beyond the May 16 deadline can request a 6-month automatic extension by filing Form 8868, Application for Extension of Time To File an Exempt Organization ReturnPDF. In situations where tax is due, extending the time for filing a return does not extend the time for paying tax. The IRS encourages organizations requesting an extension to electronically file Form 8868.

‍

Read Full Article at IRS.gov ↗
back to all news

Important Updates

April 8, 2025

IRS: Act now to file, pay or request an extension

With the April 15 tax deadline fast approaching, Internal Revenue Service reminds taxpayers there is still time to file their federal income tax return electronically and request direct deposit of any refund. Filing electronically reduces tax return errors as tax software does the calculations, flags common errors and prompts taxpayers for missing information. Most taxpayers qualify for electronic filing at no cost and, when they choose direct deposit, usually receive their refund within 21 days.

read more
April 2, 2025

IRS reminder to U.S. taxpayers living, working abroad: File 2024 tax return by June 16

The Internal Revenue Service today reminded taxpayers living and working abroad that they have until Monday, June 16, 2025, to file their 2024 federal income tax return and pay any tax due. This deadline applies to both U.S. citizens and resident aliens abroad, including those with dual citizenship. In general, on the regular due date of their return, a U.S. citizen or resident alien residing overseas or in the military on duty outside the U.S. is allowed a two-month extension to file without needing to ask for it. If they use a calendar year to file their return, as virtually all individual taxpayers do, the regular due date of their 2024 return is April 15, 2025. The automatic extended due date is June 16, 2025, pushed back from the usual June 15 because that date falls on a Sunday this year. Even with the tax-filing extension, interest will apply to any 2024 tax payments received after April 15. This means that unpaid tax-year 2024 tax balances will begin accruing interest, currently at the rate of 7% per year, compounded daily, after April 15, 2025.

read more
March 24, 2025

Follow key filing guidelines to speed refunds, avoid errors

The Internal Revenue Service issued a series of tips and reminders to speed taxpayer refunds and avoid errors on their federal tax returns as the April 15 filing deadline approaches.

read more