What are the penalties for filing Form 990-T late?
2.2k views | Last modified 4/12/2024 6:01:12 AM EST |

Applicable To
Form 990 Form 990-EZ Form 990-PF Form 990-N Form 8868 Form 990-T

The IRS will impose a penalty if an exempt organization files Form 990-T after the due date (including any extensions) and doesn’t provide a reasonable explanation for filing late. We have provided information on the IRS Form 990-T penalties below.

Late Filing Penalties for Form 990-T

The IRS penalizes organizations 5% of the unpaid tax for each month/part of a month that Form 990-T is late. The maximum penalty is 25% of the unpaid tax. If your return is more than 60 days late, the maximum penalty is $435.

Penalties for Late Tax Payments

The penalty for paying taxes late is usually half of 1% of the unpaid tax for each month or part of a month that the tax is unpaid. The maximum penalty is 25% of the unpaid tax amount.

The only way to avoid late filing penalties is to request an automatic extension by filing Form 8868 or provide a reasonable explanation to the IRS about why the payment is late.

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