FAILURE TO FILE IRS FORM 990-N COULD COST NON-PROFIT STATUS
Sorry for the caps and do not mean to start a panic, but as this could
apply to many groups represented on this list, wanted to be sure
everyone had a chance to see it. If your US-based nonprofit reports
less than $25K/year in income, you apparently must file a new form with
the IRS every three years. If your group has never filed this form (and
has been tax-exempt for at least three years), failing to file this form
by Monday could result in your group losing its IRS non-profit status.
See http://news.yahoo.com/s/ap/20100515/ap_on_bi_ge/us_charity_deadline
for more - here is an excerpt:
More than 200,000 small nonprofits across the nation are days away from
losing their tax-exempt status because they haven't filed a new form
with the Internal Revenue Service.
[...]
It's most likely the nonprofits aren't aware of the Monday deadline that
only applies to groups that report $25,000 or less in income, excluding
churches. Those organizations may not find out until Jan. 1, 2011, when
they're notified they have to pay taxes on donations they thought were
exempt. And it could be months before their nonprofit status is
restored.
Congress required the form, called a 990-N, when it amended the tax code
three years ago and groups with a fiscal year ending Dec. 31 had until
Monday to meet the deadline.
It's probably a good idea, if your group is in the under $25K boundary,
to check and be sure this form has been filed.
The IRS' page on this form is:
http://www.irs.gov/charities/article/0,,id=169250,00.html It can be
filed electronically and only eight pieces of information are required:
1. Employer identification number (EIN), also
known as a Taxpayer Identification Number (TIN)).
2. Tax year
3. Legal name and mailing address
4. Any other names the organization uses
5. Name and address of a principal officer
6. Web site address if the organization has one
7. Confirmation that the organization's annual gross receipts are
normally $25,000 or less
8. If applicable, a statement that the organization has terminated or is terminating (going out of business)
There's a search function that will let you see if groups have filed one
of these so-called 'e-postcards." Apparently the law requires one to be
filed at least every three years and this is the conclusion of the
third.
Good luck to all.
Ron Boerger
Sorry for the caps and do not mean to start a panic, but as this could
apply to many groups represented on this list, wanted to be sure
everyone had a chance to see it. If your US-based nonprofit reports
less than $25K/year in income, you apparently must file a new form with
the IRS every three years. If your group has never filed this form (and
has been tax-exempt for at least three years), failing to file this form
by Monday could result in your group losing its IRS non-profit status.
See http://news.yahoo.com/s/ap/20100515/ap_on_bi_ge/us_charity_deadline
for more - here is an excerpt:
More than 200,000 small nonprofits across the nation are days away from
losing their tax-exempt status because they haven't filed a new form
with the Internal Revenue Service.
[...]
It's most likely the nonprofits aren't aware of the Monday deadline that
only applies to groups that report $25,000 or less in income, excluding
churches. Those organizations may not find out until Jan. 1, 2011, when
they're notified they have to pay taxes on donations they thought were
exempt. And it could be months before their nonprofit status is
restored.
Congress required the form, called a 990-N, when it amended the tax code
three years ago and groups with a fiscal year ending Dec. 31 had until
Monday to meet the deadline.
It's probably a good idea, if your group is in the under $25K boundary,
to check and be sure this form has been filed.
The IRS' page on this form is:
http://www.irs.gov/charities/article/0,,id=169250,00.html It can be
filed electronically and only eight pieces of information are required:
1. Employer identification number (EIN), also
known as a Taxpayer Identification Number (TIN)).
2. Tax year
3. Legal name and mailing address
4. Any other names the organization uses
5. Name and address of a principal officer
6. Web site address if the organization has one
7. Confirmation that the organization's annual gross receipts are
normally $25,000 or less
8. If applicable, a statement that the organization has terminated or is terminating (going out of business)
There's a search function that will let you see if groups have filed one
of these so-called 'e-postcards." Apparently the law requires one to be
filed at least every three years and this is the conclusion of the
third.
Good luck to all.
Ron Boerger