Most nonprofit organizations are required to annually file a Form 990 with the IRS. The filing is tied to the nonprofit’s fiscal year end and is due on the fifteenth day of the fifth month after the fiscal year ends. For organizations with calendar fiscal years, the filing deadline is May 15. For fiscal years ending June 30, the deadline is November 15. Under normal circumstances, nonprofits may seek a six-month extension for Form 990 filings by filing Form 8868. This year is not normal, to say the least.
This guidance supplements our law firm’s April 2, 2020 webinar addressing financial assistance available through the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), which was enacted March 27, 2020 in response to the worldwide novel coronavirus outbreak. The Paycheck Protection Program (“PPP”) and Economic Injury Disaster Loan (“EIDL”) program are intended to provide significant financial assistance to nonprofits, small businesses, and others facing economic harm and other risks resulting from pandemic-related conditions.
In the maelstrom of COVID-19, Wagenmaker & Oberly is continuing to provide dedicated service to nonprofits by addressing the legal aspects of COVID-19 related issues. Here are some resources we and others are developing for you and your organization: