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Financial Resources: Form 990 Filing Extension

Form 990 now due July 15

The Internal Revenue Service has now extended the deadline for tax-exempt organizations to file their federal Form 990 to July 15. Form 990s are usually required to file the Form 990 no later than four and a half months after their fiscal year concludes. Under normal circumstances the filing dates would be:

Jan 1 – Dec 31 Fiscal Year: File by May 15

July 1 – June 30 Fiscal Year: File by Aug 15

 

With the changes due to COVID-19, tax-exempt entities filing on the calendar year will now have until July 15 to file, without having to request for additional extensions.

“The IRS had left charitable nonprofits out of the solution when it extended the Tax Day for every other entity until July 15. But the new extension of the nonprofit tax filing deadlines until July 15 is the correct move, since charitable organizations throughout the country are focused on the things that truly matter right now; providing urgent medical care, caring for the children of first responders, feeding, housing, protecting so many vulnerable people at greatest risk of exposure to COVID-19,” Tim Delaney, National Council of Nonprofits President and CEO, said in a statement. 

Questions in regards to the Form 990? Reach out today through our Financial Urgent Care program. Financial Urgent Care is designed to offer artistic entities financial analysis and support during moments of crisis. Learn more here.

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Pentacle remains dedicated to continuing to provide a high level of support to artists during these extraordinary circumstances. Alongside many other key and respected organizations in the field, we have begun accumulating and curating resources for artists and organizations experiencing income loss and other troubles as a result of the COVID-19 crisis. Find our list of resources here.