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Clarification about form 8941post

Regarding the post on November 1, 2011:  A reader asked,  “Isn’t the 8941 due on 11/15 only for filers with FYE 6/30/11?”

I appreciate the question because I do need to clarify my comments.  This post was geared towards calendar year exempt organizations, whose year end was December 31, 2010.  Their final due date is November 15, 2011.  The discussion below concerns those organization’s with fiscal year ends.

Form 8941 is attached to the main tax form the entity claiming the credit normally files.  For exempt entities this is Form 990-T, even though not all exempt entities normally file Form 990-T.  As such, for exempt entities, Form 8941 is due when the Form 990-T is due.

For entities with fiscal year ends, the initial due date of the Form 8941 is 4 1/2 months after the tax year end.  As you pointed out, the initial due date for exempt entities with a June 30, 2011 year end is November 15, 2011.  An extension to file Form 990-T extends the due date for six months.  Thus, if an organization with a June 30, 2011 year end files for an extension, it would need to file the 990-T with Form 8941 no later than May 15, 2012.  Please refer to the Form 8941 instructions to see if your nonprofit entity qualifies to take this credit if your year began in 2010.

I look forward to receiving your comments or questions.

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