What is Form 8868?
Form 8868, IRS Extension Form, to be precise, is a United States Internal Revenue Service (IRS) tax document used by non-profit organizations, trusts, and estates to request an extension of time to file their income tax returns. If your organization needs more time to gather, prepare, and present its tax information accurately, the IRS 8868 form is the way to go.
How to Fill Out Tax Extension Form 8868: A Step-by-Step Guide
Step 1: Identify Your Organization
The first section of Form 8868 requires basic information about your organization. Write the organization’s legal name, mailing address, and Employer Identification Number.
Step 2: Select the Right Document
In Part I, line 1, you'll need to check the box for the return for which you request an extension. This could be Form 990, 990-EZ, 990-PF, 1041-A, 4720, 5227, 6069, or 8870.
Step 3: Extension Period
On line 2, check the applicable box. If this is the first extension request, check 'a' for an automatic 6-month extension. If this is the second request, check 'b' for an additional (not automatic) 3-month extension. You'll need to provide a reasonable cause for the additional extension in Part II for the latter.
Step 4: Estimate of Total Tax
For organizations filing 990-T, line 3 requires an estimate of the total tax liability for the tax year.
Step 5: Balance Due
For organizations filing 990-T, line 4a requires you to enter the total payments and credits for the tax year. On line 4b, subtract line 4a from line 3 and enter the balance due.
Step 6: Reasonable Cause Statement
If you are requesting a second extension, Part II requires you to provide a detailed explanation for your need for an additional extension. This explanation is your 'reasonable cause.'
Step 7: Signature
Once you have filled out all necessary fields, the last step is to sign and date the form. Remember, by signing this form, you affirm that all the details provided are true to your knowledge.
Once you've completed the document, you can either mail it to the address listed in the instructions or e-file it through an approved IRS e-file provider.
Please note: Form 8868 only extends the time to file your organization's return. It does not extend the time to pay any taxes due. It's also essential to submit Form 8868 before the due date of the return to avoid any late filing penalties.
Where to mail form 8868
If you opt for traditional mail submission, knowing where to mail Form 8868 is crucial. The mailing address is:
Department of the Treasury
Internal Revenue Service Center
Ogden, UT 84201-0045
To ensure correct delivery, refer to the IRS Form 8868 instructions, which provide detailed guidelines on the appropriate mailing addresses. Always remember to send it before the due date to avoid penalties.
E-File Form 8868: Step Into the Future
The IRS allows you to file Form 8868 electronically to keep up with the digital age. E-filing is faster, more secure, and convenient. It also eliminates the uncertainties of traditional mailings, like postal delays.
To e-file 8868, you need to use the IRS's approved e-file providers. The IRS e-file system is easy to use, and the instructions are clear, even for those who aren't tech-savvy. Once you have completed all the necessary information, submit the form online. After successful submission, you will receive a confirmation email from the IRS.
Benefits of e-filing form 8868
E-filing has significant advantages over traditional mail filing. E-filed forms reach the IRS faster, which means quicker processing of your extension request. You also receive electronic confirmation that the IRS has received your form, eliminating guesswork. Plus, e-filing is a more eco-friendly option, reducing the need for paper and physical transportation.
Downloading the form 8868 PDF
The IRS provides the Form 8868 PDF on its official website for your convenience. You can download the form, fill it out digitally or print and fill it out manually. The form includes detailed instructions for filling it out and where to mail Form 8868 if you're not e-filing.
Related to Form 8868 Documents
Related Content - Form 8868
