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How to prepare Form 8868
About Form 8868
Form 8868 is a tax form used to request an extension of time to file certain types of tax returns. It is mostly used by tax-exempt organizations, such as charities, non-profit organizations, and religious institutions, to extend the due dates of their annual tax returns. By filing Form 8868, these organizations can get an automatic six-month extension to file their tax return. This provides them more time to gather the necessary information and complete the required paperwork accurately. However, it's crucial to note that Form 8868 does not grant an extension of time to pay any tax owed. If there's a tax liability, it must be paid by the original due date to avoid penalties and interest charges. Individuals and businesses who need additional time to file their tax returns can typically use other extension forms, such as Form 4868 (individuals) or Form 7004 (businesses). Form 8868 specifically caters to tax-exempt organizations that are unable to complete their annual tax returns within the initial deadline.
What Is Form 8868?
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