Hey folks, this is David McCree, a CPA and the nonprofit tax guy. Today, I want to talk to you about whether you should request an extension of time to file Form 990, even if you don't think you're gonna need more time to file. You know, it's long been thought that requesting an extension reflects poorly on your organization or that it increases your chances of an audit. And in the 20 years I've been doing this, I have not seen any evidence of that at all. Many excellent organizations request an extension every year, but many don't. Many don't need it. So let's talk about what might be the advantages to filing for an extension, even if you don't need one. The IRS has recently made some changes to the way they process Form 990, 990-ez, and 990 PF. This was one of their exempt organization email updates as of January 8th. The IRS is returning Form 990 series returns filed on paper and rejecting electronically filed returns when they are incomplete or if they're the wrong return. It used to be that if you filed an incomplete return or a return that wasn't signed properly, the IRS would just send you a letter and say, "Hey, you forgot to include Schedule A or Schedule B, or whatever. Please send us the complete schedule that was missing within 30 days." Well, now, now they just flat out reject the return. If it's an electronic return, they reject it and you have to fix it and resubmit it. If it's a paper return, they then actually mail it back to you with a letter saying, "You know, complete the return properly and send it back to us within 10 days." Okay, it used to be they would give you 30...
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990 due date Form: What You Should Know
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