Small NGOs have til Monday to file forms with the IRS
May 11, 2010 § Leave a comment
We love our friendly neighborhood environmental nonprofit organizations, and want you to know of this news we just received (thanks to friends at the Coastal Conservancy for forwarding this email from the Land Trust Alliance). If you’re a small NGO that has previously been exempt from filing Form 990, you could use your tax-exempt status – permanently – if you don’t file by MONDAY. Read on:
from the Land Trust Alliance:
Form 990 Drop Dead Date
And the IRS means drop dead! Up to 25% of all nonprofit organizations could lose their tax exempt status this week. We need your help to ensure that land trusts aren’t among them. Organizations with gross receipts under $25,000 may file the 990-N e-postcard, with 8 simple questions. Starting May 17, 2010, organizations that have not filed a 990 for three consecutive years will automatically lose their tax exempt status on the due date of their return: the 15th of the fifth month following the end of their fiscal year – May 15 for calendar year filers (May 17 this year since May 15 is a weekend). Organizations that lose their exempt status may no longer receive tax deductable contributions and must pay taxes on their revenues. Click here for an IRS notice that discusses this requirement.
Subject: One-Fourth of Nonprofits Are to Lose Tax Breaks – NYTimes.com