Wednesday, January 6, 2021
IRS Moves Forward With Required Electronic Filing: Form 1024-A Now Set, Forms 990-EZ, 4720, and 990-T Pending
The IRS continues to move forward with requiring electronic filing of tax-exempt organization forms. The latest addition is Form 1024-A (Application for Recognition of Exemption Under Section 501(c)(4) of the Internal Revenue Code). As detailed in Revenue Procedure 2021-08, electronic filing is now required for this form, subject to a 90-day transition relief period from the effective date of January 5, 2021 during which the IRS will still accept paper copies.
Form 1024-A joins annual information returns Form 990 and Form 990-PF, as well as Form 1023 (Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code). for which electronic filing is already generally required. (And Form 990-N and Form 1023-EZ, which have always had to be filed electronically.) It will also soon be joined by Form 990-EZ, which is currently subject to transition relief for tax years beginning before July 2, 2020, Form 4720 (Return of Certain Excise Taxes Under Chapters 41 and 42 of the Internal Revenue Code), for which the IRS announced in Notice 2021-01 that mandatory electronic filing would be delayed until the electronic version of the form is available (expected in early 2021), and Form 990-T (Exempt Organization Business Income Tax Return), for which the IRS has said an electronic version is also expected in 2021.