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Small Nonprofits Must File E-Postcard to Retain Exemption

Small Nonprofits Must File E-Postcard to Retain Exemption

Small Nonprofits Must File E-Postcard to Retain Exemption

IRS issues Regs for new requirements; groups with revenue up to $50,000 may file Form 990-N

The IRS has issued final Regulations (§1.6033-6) and a series of information releases to cover procedures for the new annual reporting requirements for small nonprofits enacted in the Pension Protection Act of 2006.  (See Ready Reference Page: “Congress Passes Charitable Reforms.”

The rules require small nonprofits that had previously been exempt from filing a Form 990 or 990-EZ because their receipts are normally less than required to file a new Form 990-N electronically to confirm that they still exist and carry on activities.  A group that fails to file for three consecutive years will lose its exempt status. ...

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