Annual filings and tax returns/payments due July 15, 2020

The extended deadline for a variety of information and tax returns and many tax payments is July 15, 2020. If you are unable to meet the July 15 deadline, you may want to review the extension procedures for exempt organization returns and information on the penalties for not filing.

EO user fee changes effective July 1, 2020

Revenue Procedure 2020-5 included user fee changes for certain miscellaneous determination requests submitted on Form 8940 that are effective July 1st.  See Appendix A of Rev. Proc. 2020-5 for a schedule of user fees.

Electronic filing mandate for Forms 990 and 990-PF

Effective for tax years beginning after July 1, 2019, the Taxpayer First Act requires organizations exempt from taxation under section 501(a) to file their annual Form 990 and Form 990-PF returns electronically, unless covered by one of the exceptions listed in the form instructions.  Form 990-EZ filers are required to file electronically for tax years ending July 31, 2021, and later. This IRS News Release contains a summary of e-filing requirements.

IRS will be sending an educational letter (Letter 6194) to organizations that filed paper Forms 990 or 990-PF prior to 2019.  There is no need to reply to the letter.

IRS Nationwide Virtual Tax Forums for 2020

The 2020 IRS Nationwide Tax Forums series of live-streamed webinars begins July 21, 2020. Registration information is available atwww.irstaxforum.com. You may review the webinar schedule, session descriptions and FAQs. The Charities & Tax-Exempt Organizations Update will be held on Wednesday, July 22 at 2:00pm – 3:00pm ET.