Last month, the IRS announced that certain taxpayers generally have until July 15, 2020, to file and pay federal income taxes originally due on April 15. The IRS has extended this relief to additional returns, tax payments and other actions. As a result, the extensions generally now apply to all taxpayers that have a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020. The extensions apply to many forms and tax payments made by tax-exempt organizations, including:
Form 990-series annual information returns or notices (Forms 990, 990-EZ, 990-PF, 990-BL, 990-N (e-postcard))
Forms 8871 and 8872
Form 5227
Form 990-T
Form 1120-POL
Form 4720
Form 8976
Visit irs.gov for Notice 2020-23 and Rev. Proc. 2018-58 information, including a complete list of affected forms, tax payments and other time-sensitive actions.
For details on which form your education foundation should file, check out our previous FYI: Going Paperless - Updates on IRS 1023 and 990 Filings.