If you can’t get your Form 990-EZ filed by the due date, the first thing to do is file for an extension of the due date. The extension request must be filed on or before the date the return is due.
For tax years beginning AFTER December 31, 2015, the IRS now allows one six-month extension of time to file Form 990, 990-EZ, or 990-PF. There is no extension for Form 990-N. IRS Form 8868 is used to apply for the extension. (In the video above I mention two three-month extensions. The three-month extensions are now obsolete.)
What if you’ve a request for extension and the extension is about to expire and you still don’t have enough information to file a complete return?
As I explain in the video, you should file the best return you can. Then file an amended return later if necessary.
What if you are waiting on an independent audit or review of your financial statements to be completed? There’s no law that says you have to file a return based on audited numbers. File the return with the information you have. Later, when the audit or review is complete, file an amended return if necessary.
Judicious use of estimated numbers may be necessary. Do what you have to do to file a return, but don’t file a frivolous or fraudulent return. If you use estimates, disclose that on Schedule O.
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