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1.24.24 | |

E-file for Forms 990-T and 1120-POL Unavailable Until March 17, 2024

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The IRS is notifying certain tax-exempt organizations that they won’t be able to file Form 990-T, Exempt Organization Business Income Tax Return, or Form 1120-POL, U.S. Income Tax Return for Certain Political Organizations, electronically until March 17, 2024, due to IRS system upgrades.

This applies to all Forms 990-T, including those with due dates between January 15, 2024, and March 15, 2024. As a reminder, Form 990-T must be filed electronically. The IRS said only an estimated 2,000 of the 200,000 Form 990-T filers have a due date in this time period.

Starting on March 17, 2024, organizations can e-file Form 990-T by the extended due date.

 

For Forms 990-T final due (i.e., have already filed an extension) between now and March 17, 2024:

If the extended due date for Form 990-T falls between January 15, 2024, and March 15, 2024, and the organization consequently e-files its Form 990-T late, the organization should include a reasonable cause request with its e-filed Form 990-T. The reasonable cause statement should request that penalties for late filing not be imposed due to e-filing not being available as of the due date of the return.

 

For Forms 990-T with an original due date that falls between now and March 17, 2024:

If your Form 990-T is due between January 15 and March 15, 2024, you can request an automatic six-month extension of time to file by submitting Form 8868, Application for Extension of Time To File an Exempt Organization Return, by the due date of the return. Any balance due must be submitted with Form 8868 to avoid interest and penalties.

 

For Forms 1120-POL:

If your Form 1120-POL is due between January 15 and March 15, 2024 (including returns on extension), you can file on paper. Electronic filing is not mandatory.

If you prefer to e-file, you can request an automatic six-month extension of time to file Form 1120-POL by submitting Form 7004, Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns, and paying the full balance due with Form 7004 to avoid interest and penalties.

The IRS said that organizations with Form 990-T and Form 1120-POL due dates of April 15, 2024, and later will be able to e-file on time.

Please contact us with any questions.

 

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