IRS form 8868 for Business Income Tax Extension for Tax–Exempted Organizations.
IRS Form 8868 is used to apply for business income tax extensions for tax-exempted organizations. You can use this form to apply for the automatic six-month extension from the IRS to report your taxes. Also, you can use this Form 8868 to apply for a non-automatic three-month extension if the original automatic extension was insufficient to file your tax reports.
Tax–exempted organizations must report their taxes.
Non-profit and tax-exempt organizations are not liable for any taxes because they are excluded from any taxes by the federal government. But they must file their business income tax reports to the IRS within the deadline. If they cannot report the taxes for the previous year within the deadline, they should apply for a tax extension to the IRS and get the automatic tax extension time to report their business income taxes.
The deadline is approaching soon.
The owners and taxpayers of charities and tax-exempted organizations should be aware that May 15, 2023, is the last date to apply for business income extension Form 8868 to the IRS to enjoy the tax extension time. Suppose they fail to report the income tax returns by the deadline or apply for the form 8868 business tax extension. In that case, IRS will charge penalties from the respective organization for their negligence.
Apply for extension Form 8868 to get extra time.
Once you apply for business tax extension form 8868, you will have until November 15th, 2023, to report your tax-exempt organization’s business income tax with all the proofs and supporting documents. IRS gives the extension time to prepare the business income tax reports. Most organizations use this extension time to do their taxes and thoroughly report them to the IRS. If a tax-exempted organization doesn’t report its business income taxes for three consecutive years, it will automatically lose its tax-exempt status.
E-file form 8868 on TaxGarden.com to get the extension today!
Taxgarden.com is an IRS-approved modern e-file service provider for business and personal income tax extension forms. You can easily apply for form 8868 online in the comfort of your home and enjoy the six-month automatic tax extension period. You can register for free at taxgarden.com using your PC or smartphone and start applying for your business tax extension form 8868 directly to the IRS. Taxgarden.com offers a simple, quick e-filing process with secure technology per IRS guidelines. You will have a secure form 8869 tax extension for your tax-exempt organizations. You can e-file form 8868 tax extension only at $11.99 per application and enjoy the penalty-free tax extension time with Taxgarden.com. Contact our customer support executives at +1–855–615–1040 for assistance regarding form 8868 tax extension queries.
Originally published at https://blog.taxgarden.com on May 05th, 2023.
