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Tax Deadline for Nonprofits and Foundations is Now July 15th

In response to the coronavirus pandemic, the Internal Revenue Service announced that nonprofits and foundations will have more time to file their informational tax returns (Form 990 series returns). Non-profits with tax deadlines of April 15 to July 14th will now have until July 15th to file their tax returns with the Internal Revenue Service.

Notice 2020-18 released last Friday had already allowed taxpayers to delay tax filing and payment originally due between April 15 until July 15th, 2020 to July 15th.

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New Legislation Impacting Wisconsin Nonprofits

On March 21st, Governor Tony Evers signed Assembly Bill 912 into law. This piece of legislation introduced significant changes to the financial reporting requirements affecting nonprofit organizations operating in Wisconsin.