Posts Tagged "tax-exempt organizations"

May filing deadline for nonprofits

Posted on May 24, 2011

Do you volunteer your time to a charitable or other nonprofit organization? Make sure the organization is aware of this May federal reporting requirement. Nonprofit organizations that may not have been required to complete a return in the past – such as those with less than $50,000 of annual gross receipts – are now required to file Form 990-N. The form, called an “e-Postcard,” must be submitted electronically. This year the due date for nonprofits with a December 31 year-end is May 16. Failure to file Form 990-N could result in loss of tax-exempt status. For more information or filing assistance, contact our...

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IRS tells tax-exempts to file – even if they’re late

Posted on Jun 29, 2010

On May 18, the IRS urged tax-exempt organizations to file Form 990 even if they missed the filing deadline of May 17. This year’s filing deadline for Form 990 is critical because it marks the third year for the rule established by the “2006 Pension Protection Act.” Under this provision, if non-church tax-exempt organizations fail to file Form 990 for three consecutive years, their exempt status will be revoked. The filing requirement went into effect for 2007, making 2010 the third and critical year (filing for the 2009 year).  Realizing that many small tax-exempt organizations haven’t filed Form 990 on time, the IRS has decided to publish guidance to offer relief to these organizations in order to help them maintain their tax-exempt status.  A review of the filing requirements:  * Organizations with annual gross receipts of $25,000 or less can file an electronic Form  990-N, called an e-Postcard.  * Organizations with annual gross receipts of less than $500,000 and total assets of less than $1.25 million, can file Form 990-EZ or the full Form 990.  * Organizations with gross annual receipts of $500,000 or more and total assets of $1.25 million or more must file Form 990.  * Private foundations, regardless of financial activity, must file Form 990-PF.  For details or filing assistance, contact our...

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