For many tax-exempt organizations operating on a calendar-year (CY), May 16, 2022, marks the deadline for filing annual information and tax returns. The Internal Revenue Service recently issued IR-2022-93 providing helpful reminders as the filing deadline approaches. The applicable returns are:

• Form 990-series annual information returns (Forms 990, 990-EZ, 990-PF)
• 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 (other than certain trusts)
• Form 4720, Return of Certain Excise Taxes Under Chapters 41 and 42 of the Internal Revenue Code

The IRS reminds organizations that electronic filing is mandatory for the information and tax returns listed above. 

To assist tax-exempt organizations in their fulfillment of filing requirements, several online workshops are available.

Extension of time to file

For organizations requiring additional time to file, a 6-month automatic extension may be requested. Form 8868 should be used to request the automatic extension and can be filed electronically or by paper. It should be noted that if tax is due, the extension does not provide an extension of time for remitting payment, only for filing the return.

For tax-exempt organizations eligible to file Form 990-N, the May 16 filing deadline cannot be extended.

Auto-Revocation

Failing to file the required Form 990 series for three consecutive years will result in an organization automatically losing tax-exempt status, a situation referred to as “auto-revocation”.

In addition to notifying the organization of the automatic revocation, the IRS also publishes a list of organizations whose tax-exempt status has been automatically revoked. For organizations that believe the revocation was made in error, certain procedures are available.

For further information on Form 990 filing and a host of other tax-related information, please reference ECFA’s 2022 Church and Nonprofit Tax and Financial Guide.