Making Taxes Less Taxing!

If you are a tax exempt organization with a fiscal year that ends on either Aug. 31 or Sept. 30, 2011, respectively, or an organization that has already obtained an initial three-month filing extension and now have an extended filing deadline that falls on Jan. 17 or Feb. 15, 2012, the IRS has extended the filing due dates until March 30, 2012, to file their annual returns. 

The IRS is granting this extension of time to file because the part of the e-file system that processes electronically filed returns of tax-exempt organizations will be off-line during January and February.

In order to avoid receiving a late filing penalty notice, a reasonable cause statement should be attached to the tax return. If organizations receive late-filing penalty notices, they should contact the IRS so that these penalties can be abated.