Tax-exempt organizations with January and February filing due dates will have until March 30 to post their annual returns, the Internal Revenue Service announced this week.
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.
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In general, the extension applies to tax-exempt organizations whose normal filing deadline is either Jan. 17 or Feb. 15.
Ordinarily, these deadlines would apply to organizations with a fiscal year that ended on Aug. 31, 2011, or Sept. 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 Jan. 17 or Feb. 15.
The extension applies to affected organizations filing Forms 990, 990-EZ, 990-PF, or 1120-POL. Form 990-N filers will not be affected. No form needs to be filed to get the March 30 extension.
The IRS is granting this extension because the part of the system that processes these specific electronically filed returns will be off-line during January and February. The agency stressed that the rest of the e-file system will continue to operate normally, and urged all individuals and businesses to choose the accuracy, speed and convenience of electronic filing.
In order to avoid receiving a late-filing penalty notice, a reasonable cause statement should be attached to the tax return. If organizations receive late-filing penalty notices, they should contact the IRS so that these penalties might be abated.
For more information, visit IRS.gov and enter Notice 2012-4 in the search field.
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