October 15, 2024

The Internal Revenue Service (IRS) has announced Revenue Procedure 2024-39, which grants certain applicable entities making an elective payment election a six-month extension to file an original or superseding Form 990-T Exempt Organization Business Income Tax Return. Applicable entities that were required to but did not file a timely extension on Form 8868, Application for Extension of Time to File an Exempt Organization Return, will be granted a six-month automatic extension of time to file a Form 990-T for purposes of making an elective payment election from the original return due date. In addition to the six-month automatic extension of time to file for certain applicable entities, this revenue procedure temporarily waives the requirement to make an elective payment election on an electronically filed Form 990-T. Applicable entities that would otherwise be required to file Form 990-T electronically to make an elective payment election on a paper-filed Form 990-T should follow certain procedural requirements. The automatic extension and ability to make an elective payment election on a paper-filed Form 990-T does not apply to tax years ending after November 30, 2024.

As a reminder, applicable entities must still complete the required pre-filing registration process through IRS Energy Credits Online and include a valid registration number when filing their return. In addition, the IRS is offering virtual office hours at the times listed below in support of the pre-filing registration process. The IRS has also published a video tutorial on how to prepare and file Form 990-T, Form 3800, and applicable source credit forms for certain credits.

IRS Office Hours

Wednesday, October 16, 2024 from 1:00pm to 2:30pm ET

• Click Here to Register

Wednesday, October 30, 2024 from 1:00pm to 2:30pm ET

• Click Here to Register

Wednesday, November 13, 2024 from 1:00pm to 2:30pm ET

• Click Here to Register

For more information, please visit Treasury’s website by clicking here.

For more information, please contact Brian Howard, USET SPF Senior Policy Analyst, at bhoward@usetinc.org.

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Established in 1969, the United South and Eastern Tribes, Inc. (USET) is a non-profit, inter-Tribal organization serving thirty-three (33) federally recognized Tribal Nations from the Northeastern Woodlands to the Everglades and across the Gulf of Mexico. USET is dedicated to enhancing the development of Tribal Nations, improving the capabilities of Tribal governments, and improving the quality of life for Indian people through a variety of technical and supportive programmatic services.

Established in 2014, the USET Sovereignty Protection Fund (USET SPF) is a non-profit, inter-Tribal organization advocating on behalf of thirty-three (33) federally recognized Tribal Nations from the Northeastern Woodlands to the Everglades and across the Gulf of Mexico. USET SPF is dedicated to promoting, protecting, and advancing the inherent sovereign rights and authorities of Tribal Nations and in assisting its membership in dealing effectively with public policy issues.