Archive for September, 2010

As of July 2010, over 100,000 small nonprofit organizations were at risk of losing their Federal tax-exempt status for not having filed a tax return for 3 consecutive years.  Beginning with the 2007 tax year, most tax-exempt organizations with gross receipts of $25,000 or less were required to file Federal tax Form 990-N.  Before that time, these organizations were not required to file any such returns.

Fast forward to 2010, and these organizations, many of which were likely unaware of the change in law, are at risk of losing their Federal tax exempt status for failing to file a tax return for 3 consecutive years.  This year is the first year in which these small nonprofit organizations could be adversely affected.  The Internal Revenue Service (IRS) has published a list of organizations that may be at risk of losing tax-exempt status.

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