EO Update: e-News for Charities & Nonprofits

Bryan Cave Leighton Paisner

Update on mandatory electronic filing for Form 990-T

The Taxpayer First Act requires certain exempt organizations to file information and tax returns electronically for tax years beginning after July 1, 2019. Pending conversion of Form 990-T, Exempt Organization Business Income Tax Return, to electronic format, the IRS has continued to accept the 2019 tax-year versions of this return on paper.

The 2020 Form 990-T and its instructions have been updated for e-filing of returns with due dates on or after April 15, 2021. As of the beginning of March 2021, several providers have made software available to file Form 990-T electronically. Information about software providers supporting electronic filing of Form 990-T can be found on the Exempt Organizations Modernized e-File (MeF) Providers page.

Any 2020 Form 990-T with a due date on or after April 15, 2021, must be filed electronically and not on paper. A limited exception applies for 2020 Form 990-T returns submitted on paper that bear a postmark date on or before March 15, 2021.

New IRS ‘Submit Forms 2848 and 8821 Online’ offerselectronic signature option and simplifies third-party authorizations

Did you know tax professionals and their clients can now electronically sign third-party authorization Form 2848, Power of Attorney, and Form 8821, Tax Information Authorization?

With the new tool Submit Forms 2848 and 8821 Online, tax professionals can now upload the forms directly to the IRS. Tax professionals enter their Secure Access username and password or complete a Secure Access registration to authenticate their identities. Forms signed by hand can also be uploaded.

For details, see IRS News Release, Fact Sheet 2021-1 or IRS Office of Professional Responsibility Director Sharyn Fisk’s article in A Closer Look.

File Error-Free Form 1023-EZ Webinar now posted to IRS Video Portal

Thank you to those of you who attended the live webinar, but if you missed it, the recording of the File Error-Free Form 1023-EZ Webinar is designed to help smaller organizations that are filing for tax exemption determine:

  • Who can use Form 1023-EZ to apply for tax exemption
  • How to submit Form 1023-EZ
  • The differences between Form 1023 and Form 1023-EZ
  • Form 1023-EZ eligibility requirements

If you need more information after viewing the presentation, go to irs.gov/charities.

Registration is now open for the IRS Nationwide Tax Forum

The 2021 Virtual IRS Nationwide Tax Forum will consist of a 5-week program of live webinars, beginning on July 20, 2021. Webinars will be offered every Tuesday, Wednesday, and Thursday for the 5-week duration.

Like the in-person Tax Forum, participants will pay one single price to register and have access to all live webinars. The full schedule and list of topics will be released in early April. Register for the Tax Forums at www.irstaxforum.com.

Taxable Fringe Benefit Essentials for Employers Webinar

The Tax Exempt and Government Entities Division and the Office of Federal, State and Local Governments would like to invite you to register to watch the free Taxable Fringe Benefit Essentials for Employers Webinar on April 14, 2021, at 1:00 p.m. (ET).

This webinar explains what a fringe benefit is and how to value a fringe benefit. It will cover the most common fringe benefits and explain if those fringe benefits are taxable.

For more information, see Webinars for Tax Exempt & Government Entities.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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