Posted by: njrigg | May 16, 2010

Don’t Throw Away Your Tax Exempt Status

Don’t Throw Away Your Tax Exempt Status

ALERT: May 17, 2010, is the deadline for nonprofits that have not filed an annual return in the past three years (even those with gross receipts normally under $25,000) to file or face automatic revocation of their tax-exempt status.

http://www.irs.gov/charities/article/0,,id=217087,00.html

Organizations that lose their tax-exemptions may not receive tax-deductible contributions and will have to file all over again for recognition as tax-exempt with the IRS.

Find out whether your nonprofit is at risk of losing its tax-exempt status because it hasn’t filed annual returns with the IRS.

Check the list!

http://nccsdataweb.urban.org/PubApps/statePicker.php?prog=epostcard&display=state

Read this fact sheet from the IRS for more information about filing annual returns and please spread the word.

http://www.irs.gov/pub/irs-tege/filingrequirementsfactsheet_012010.pdf

The smallest nonprofits (those with gross receipts normally under $25,000) only need to fill out Form 990-N, also known as the e-Postcard.

The IRS has detailed information on who needs to file, as well as Frequently Asked Questions and fact sheets.

Links to More Information from the IRS:

More info: http://www.irs.gov/charities/article/0,,id=217087,00.html

Link to FAQ on the issue: http://www.irs.gov/charities/article/0,,id=221600,00.html

The 8 questions: http://www.irs.gov/charities/article/0,,id=218162,00.html

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