Form 8868—2024 Tax Year Checklist
Application for Automatic Extension of Time to File an Exempt Organization Return
Form 8868 provides an automatic 6-month extension to file certain exempt organization returns and excise tax returns for the 2024 tax year. This extension applies to Forms 990, 990-EZ, 990-PF, 990-T, 4720, 5227, 5330, 6069, and 8870. The extension is automatic if you file the form by the original due date of your return and meet all requirements.
Step-by-Step Filing Checklist
Step 1: Determine Your Return Code
Select the appropriate Return Code based on the form you need to file. Each return type has a specific code ranging from 01 to 12. Verify that your Return Code matches your organization type and the return you’re filing for 2024.
Step 2: Complete Part I – Identification Information
Enter your organization’s legal name exactly as it appears on your determination letter. Provide your Employer Identification Number (EIN), complete mailing address, and select the appropriate Return Code. Accuracy in this section ensures proper processing of your extension request.
Step 3: Indicate Foreign Organization Status
If your organization has no office or place of business in the United States, check the box in Part II. This notifies the IRS of your foreign status and may affect where you file your return.
Step 4: Identify Group Return Status
For organizations filing as part of a group return under a Group Exemption Number (GEN), indicate whether the extension applies to the entire group or only to certain members. If covering partial members, attach a complete list with names and EINs of all organizations included in this extension request.
Step 5: Enter Your Tax Year Dates
On Line 1, specify your tax year by entering the beginning and ending dates. Most organizations use the calendar year (January 1 to December 31), but fiscal year filers should enter their specific budgetary year dates. Do not leave this line blank.
Step 6: Indicate Short Tax Year Reason
Line 2 applies only if your 2024 tax year is less than 12 months. Select the applicable box: Initial Return (first year of existence), Final Return (terminating organization), Change in Accounting Period, or Other. Leave this line blank if filing for a full 12-month period.
Step 7: Calculate Tentative Tax
For Forms 990-PF, 990-T, 4720, or 6069, complete Line 3a by calculating your tentative tax. Enter the total tax liability after subtracting any nonrefundable credits allowable for 2024. Organizations filing Forms 990, 990-EZ, or 5227 should leave this line blank, as these are information returns with no tax due.
Step 8: Report Credits and Payments
On Line 3b, enter the total of all tax payments you’ve already made for 2024. Include estimated tax payments, any overpayment from the prior year that you applied as a credit, and any refundable credits. Accurate reporting prevents underpayment penalties.
Step 9: Calculate Balance Due
Line 3c shows your balance due. Subtract Line 3b from Line 3a. If the result is zero or negative, enter zero. If you have a balance owing, you must make payment by the original due date of your return to avoid late payment penalties and interest charges.
Step 10: Make Payment If Required
Payment can be made by check, money order, credit card, or electronic funds transfer. You may use the Electronic Federal Tax Payment System (EFTPS) or pay by credit card through an IRS-approved payment processor. Include your EIN and the tax period on your payment. Payment is not required if Line 3c is zero.
Step 11: Complete Part III for Form 5330 Filers
If requesting an extension for Form 5330 (excise taxes related to employee benefit plans), file a separate Form 8868 for each plan. Specify the Internal Revenue Code section under which the tax is imposed. For sections 4980 or 4980F, include the applicable date in MM/DD/YYYY format.
Step 12: Obtain Required Signatures
The form must be signed by an officer, manager, trustee, or authorized representative under penalties of perjury. Include the signature, printed name, title, and date. Unsigned forms are not valid and will not be accepted as a basis for granting an extension.
Step 13: Verify Filing Method and Deadline
Form 8868 can be filed electronically or by hand. Electronic filing is recommended for faster processing. The form must be filed by the original due date of your return. Most calendar year returns are due by May 15, 2025, so the extension request must be submitted by that date.
Step 14: Submit Your Form
Electronic filers should use IRS-approved e-file providers or the IRS e-file system. Paper filers should mail the form to the address listed in the Form 8868 instructions based on your location and return type. Do not attach Form 8868 to your actual return when you file it later.
Step 15: Retain Confirmation and Records
Keep a copy of your filed Form 8868 and any confirmation receipt. For electronic filers, save your acknowledgment. For paper filers, keep proof of mailing as a record. The extension is effective when the IRS receives your properly completed form by the original due date. Your new extended deadline is typically six months from the original due date.
Important Reminders
- Extension Does Not Extend Payment Time: If you owe tax, payment is due by the original return deadline. The extension only applies to filing the return, not to paying any tax owed—late payment results in penalties and interest.
- No Extensions Beyond Six Months: Form 8868 provides a single automatic 6-month extension. No additional extensions are available for these returns under any circumstances.
- File Even Without Balance Due: Organizations that do not owe tax still need to file Form 8868 if they need more time to prepare their information return. The extension prevents late filing penalties.
- Electronic Filing Benefits: Electronic filing provides immediate confirmation, faster processing, and reduces errors. Most tax-exempt organizations are required to file their returns electronically, and filing the extension electronically streamlines the process.
- Automatic Approval: Unlike some extension forms, Form 8868 grants an automatic extension when properly filed by the deadline. You do not need to wait for IRS approval to use the extended time.
- Check Your Specific Due Dates: While most calendar year filers have a May 15 deadline, Form 990-T filers and organizations with fiscal years have different due dates. Verify your specific original due date to ensure timely filing of the extension.
This checklist ensures compliance with IRS requirements and helps you avoid penalties while preparing accurate and complete exempt organization returns for the 2024 tax year.
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This checklist is for educational purposes only and does not constitute tax or legal advice. Always review official IRS instructions and consult a qualified professional for guidance.
