IRS Highlights New Business Tax Account Features, FS-2024-27
The IRS announced that it is continuing to expand the features within Business Tax Account (BTA), an online self-service tool […]
Read MoreThe IRS reminded tax-exempt organizations about the May 16, 2022, filing deadline for many of them. Those tax-exempt organizations that operate on a calendar-year basis have to file the following returns with the IRS:
Further, the IRS informed that organizations filing a Form 990, 990-EZ, 990-PF or 990-T for calendar-year 2021 must file their returns electronically. Private foundations filing a Form 4720 for calendar-year 2021 must file the form electronically. Charities and other tax-exempt organizations can file these forms electronically through an IRS authorized e-file provider. Organizations eligible to submit Form 990-N must do so electronically and can submit it through Form 990-N on IRS.gov. Additionally, the IRS reminded organizations that if an organization’s return is incomplete or the wrong return for the organization, it will be rejected. Common errors include missing or incomplete schedules.
Finally, the IRS informed that tax-exempt organizations can request a six-month automatic extension by filing Form 8868, Application for Extension of Time to File an Exempt Organization Return. In situations where tax is due, extending the time for filing a return will not extend the time for paying tax.
The IRS announced that it is continuing to expand the features within Business Tax Account (BTA), an online self-service tool […]
Read MoreThe IRS has issued a series of questions and answers for 401(k) and similar retirement plans that provide, or wish […]
Read MoreThe IRS Whistleblower Office has recognized the contributions of whistleblowers on the occasion of National Whistleblower Appreciation Day, which falls on July […]
Read MoreThe floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]
Read MoreThe IRS has updated frequently asked questions (FAQs) to provide guidance related to the critical mineral and battery component requirements […]
Read MoreThe IRS has issued a reminder that summer day camp expenses may be eligible for the Child and Dependent Care tax […]
Read MoreThe IRS has warned taxpayers not to fall for scams centered around the Fuel Tax Credit, the Sick and Family […]
Read MoreThe IRS has issued a cautionary alert to taxpayers about a new scam exploiting clean energy tax credits. This emerging […]
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