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IRS Extends Deadline For Tax-Exempt Organizations

by Leroy Baker, Tax-News.com, New York

21 December 2011


The US Internal Revenue Service (IRS) has announced that certain tax-exempt organizations will have extra time in which to file their annual returns while the agency's electronic filing system undergoes an update.

The filing extension applies to tax-exempt organizations with January and February filing due dates which now have until March 30, 2012, to file their yearly returns.

The IRS said that it is granting this extension of time to file because the part of the e-file system that processes electronically filed returns of tax-exempt organizations will be offline during January and February. The agency stressed that the rest of the e-file system will continue to operate normally.

In general, the extension applies to tax-exempt organizations whose normal filing deadline is either January 17 or February 15, 2012. Ordinarily, these deadlines would apply to organizations with a fiscal year that ended on August 31 or September 30, 2011, respectively. The extension also applies to organizations that already obtained an initial three-month filing extension and now have an extended filing deadline that falls on January 17 or February 15, 2012. However, the IRS says that the majority of tax-exempt organizations will be unaffected by this extension because they operate on a calendar-year basis and have a May 15 filing deadline.

In order to avoid receiving a late filing penalty notice, the agency is advising tax-exempt organizations affected by the changes to attach a 'reasonable cause' statement to their tax return. Late-filing penalties will be abated, however, if these organizations contact the IRS. The agency has encouraged these organizations to consider either e-filing early (before the end of December) or waiting until March to file electronically.

TAGS: compliance | tax | business | tax compliance | United States | charities | penalties

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