Non-Profit Doomsday Passes
Doomsday has passed for as many as 400,000 of the more than 1.5 million non-profit organizations in the US. Most should have stopped issuing tax receipts on May 15, 2010. Many likely still are. If you work or volunteer at a small non-profit, or received a tax receipt from a very small non-profit recently, read on …
The Pension Protection Act of 2006 requires the IRS to revoke the federal tax exemption of any organization that has failed to file three consecutive annual returns (Form 990-N, 990-EZ, 990, or 990-PF). Historically, only nonprofits with annual gross revenue in excess of $25,000 were required to file Form 990. Now, all nonprofits are required to file. There are no extensions. Organizations that fail to meet the May 15 deadline this year will be required to re-apply for 501(c)3 status.
Brian Lacy
November 8th, 2011 at 12:13 pm
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