In our continuing effort to keep nonprofits informed and help you find useful resources related to the COVID-19 pandemic, here are some further developments (as of April 14, 2020):
- IRS Automatically Extends Nonprofit Filing Deadlines. Here’s how the Service summarized the changes that provide relief from, among other deadlines, upcoming Form 990 due dates:
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
- California Deadlines Extended, as well. The California Attorney General’s Registry of Charitable Trusts (regarding Form RRF-1) and the Franchise Tax Board (regarding Form 199) have indicated that they will honor the extended IRS deadlines.
- Tips and Tools from the Nonprofit Finance Fund. NFF provides loans and other financial support to nonprofits. In addition to offering links to outside resources, this site provides tools for financial modeling and forecasting for nonprofits, as well as tips on telling your organization’s “financial story.”
- Information for Funders from the Center for Disaster Philanthropy. Lots of resources, including current data, links to other resources, and a webinar on lessons for philanthropy from past epidemics.