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NEW FILING REQUIREMENTS FOR SMALLER
NOT-FOR-PROFIT
ORGANIZATIONS |
Organizations
with gross receipts of $25,000 or less must now file new Form 990-N
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(Omaha, NE) January 30, 2008-- Small tax-exempt
non-profit organizations must now file a short electronic form called Form 990-N with the
IRS. Form 990-N, also called the E-postcard, is a short electronic form that most
small, tax exempt organizations such as 501(c) (3)’s have to file with the IRS,
starting in 2008 for activities from January 1, 2007 onward.
If your organization has gross receipts of less than $25,000 and is not required to file
another IRS form such as Form 990 or From 990-EZ, you must file the Form 990-N.
Form 990-N must be filed every year by the 15th day of the 5th month after your
non-profits’ fiscal year ends. For example if your calendar ends on December
31, you must file by May 15 the following year. If your calendar year ends on June
30 you must file by November 15.
The IRS requires that the E-postcard be filed electronically. There is no paper
form. You must file via the internet, but no software or download is required.
If your non-profit organization fails to file the e-postcard for three consecutive years,
the IRS will revoke you tax-exempt status. Consult your tax preparer for
more information on how to properly fulfill this requirement. For more information
please visit the IRS web-site http://www.irs.gov/charities/ |
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