Treasury Announces Filing Extensions for Exempt Organizations

By Garrett M. Higgins, CPA, Partner and Eva Mruk, EA, Director

In a Press Release (IR-2020-66), issued on April 9, 2020, the U.S. Treasury Department, Office of Public Affairs, announced relief for tax-exempt organizations as follows:

Tax returns and payments for tax-exempt organizations and fiscal year businesses due between April and June are postponed until July 15, 2020.

In Notice 2020-23, released on April 9, 2020, the notice expands relief to additional returns and tax payments. In general, extensions now apply to all taxpayers that have a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020.

This relief covers the following returns:

• Exempt organization informational returns, including all Form 990-series returns (Form 990, Return of Organization Exempt from Income Tax; Form 990-EZ, Short Form Return of Organization Exempt from Income Tax; and Form 990-N e-postcard);
• Excise tax payments on investment income and return filings on Form 990-PF, Return of Private Foundation or §4947(a)(1), Trust Treated as Private Foundation;
• Excise tax payments and return filings on Form 4720, Return of Certain Excise Taxes under Chapters 41 and 42 of the Code; and
• Quarterly estimated income tax payments calculated on or submitted with Form 990-W, Estimated Tax on Unrelated Business Taxable Income for Tax-Exempt Organizations.

This relief is automatic and impacted exempt organizations need not take any further action to take advantage of this relief.

Contact Us

If you have any questions, please contact Garrett M. Higgins, CPA, Partner at ghiggins@pkfod.com or a member of your tax-exempt client service team at PKF O’Connor Davies, LLP.