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June 16, 2021

IRS will require private foundations to electronically file Form 4720 due July 15, 2021 or later

The IRS has announced that, as of June 1, 2021, any private foundation completing a Form 4720, Return of Certain Excise Taxes Under Chapters 41 and 42 of the Internal Revenue Code, that is due July 15, 2021 or later must file the form electronically. The IRS encourages, but does not require, other organizations filing Form 4720 to do so electronically. A Tax Alert is forthcoming.