Deadline to File Non-Profit Tax Returns Fast Approaching
Deadline to File Non-Profit Tax Returns Fast Approaching Monday May 7, 2007 May 15th is the deadline for tax-exempt organizations to file their information and tax returns with the Internal Revenue Service. Tax-exempt organizations cover a wide range of public charities, private foundations, churches, and non-profit groups. Tax-exempt organizations must file Form 990 or 990EZ. If your organization is not ready to file, please request an automatic 3-month extension using Form 8868. Why? If you don’t request an extension, the IRS will assess a penalty of at least $20 for each day your Form 990 is late. The maximum late filing penalty is $50,000 or 5% of gross receipts. So filing an extension now can save your non-profit a lot of money.
