Many tax-exempt organizations must file
information returns by May 16, 2022
Even though
organizations like charities and foundations may be tax-exempt, the IRS still
requires them to file certain information every year. For many of these exempt
organizations, the deadline to file their 2021 information return is Monday,
May 16, 2022.
Here are the
forms they may need to file, depending on the size and type of organization:
- Form 990, Return of Organization Exempt from Income
Tax
- Form 990-EZ, Short Form Return of Organization Exempt
from Income Tax
- Form 990-PF, Return of Private Foundation or Section
4947(a)(1) Nonexempt Charitable Trust Treated as a 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
Mandatory
electronic filing
Tax-exempt
organizations must file their forms electronically. E-filing reduces processing
time, making compliance with reporting requirements easier.
Here are a few
things organizations should know about filing:
- Organizations
can e-file most returns through an IRS Authorized e-File Provider.
- However,
organizations filing Form 990-N must e-file through the Form 990-N, e-Postcard, page on IRS.gov.
- The
IRS will reject incomplete or incorrect returns. Organizations should
check that they’re using the right return, have fully completed it and
don’t have missing schedules.
- The
IRS has a series of pre-recorded online workshops for exempt organizations. For
organizations filling out one of the Form 990 series, the Form 990 Overview Course may be helpful.
Extension
of time to file
If an
organization can’t make the May deadline, they can request a 6-month automatic
extension by filing Form 8868, Application for Extension of Time to File an
Exempt Organization Return. This extension to file isn’t an extension to pay
any tax owed. Organizations can e-file Form 8868 for faster processing.