May 7, 2010
As reported in an IRS e-newsletter, many tax-exempt organizations must file Form 990 by May 17 deadline to preserve tax-exempt status with IRS:
A crucial filing deadline of May 17 is looming for many tax-exempt organizations that are required by law to file their Form 990 with the Internal Revenue Service or risk having their federal tax-exempt status revoked. The Pension Protection Act of 2006 mandates that all non-profit organizations, other than churches and church related organizations, must file an information form with the IRS. This requirement has been in effect since the beginning of 2007, which made 2009 the third consecutive year under the new law. Any organization that fails to file for three consecutive years automatically loses its federal tax-exempt status.
Additional information is available online. Please let us know if you have any questions.
In a statement issued yesterday, IRS Commissioner Shulman urged the many small tax-exempt organizations that have yet to file their required information return to do so–even though the May 17 filing deadline has passed. Shulman assured small organizations that the IRS will do what it can to help them avoid losing their exempt status.
For more information, visit http://www.irs.gov/newsroom/article/0,,id=223609,00.html