Nonprofits: Heed this May deadline

Posted on Jun 9, 2016

May 16, 2016, is the deadline for filing annual information returns for nonprofit organizations. Missing the due date three years in a row means losing tax-exempt status. The revocation is automatic and has severe consequences, including the possibility of paying income tax. The good news is that filing might be easier than you think. A nonprofit with annual gross receipts of $50,000 or less can file Form 990-N, known as the “e-Postcard.” Form 990-N has eight questions and is filed electronically.

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