Thousands of Mass. Nonprofits Risk Losing Tax-Exempt Status

8,000 Nonprofit Organizations risk losing their Tax Exempt Status

MassNonprofit.org posted on July 29, 2010 that over 8,000 Non-Profit Organizations in Massachusetts are at risk of losing their tax-exempt status because they failed to file required federal tax forms for the last 3 years.  Organizations that have not complied with federal filing requirements have until October 15, 2010 to preserve their tax status under a one time relief program.  Organizations that have not filed the required information returns by Oct. 15, 2010, will have their tax-exempt status revoked, and the IRS will publish a list of these revoked organizations in early 2011.

The IRS posted a list of NonProfit Organizations that are out of compliance and their last known addresses along with guidance how to come back into compliance.  You can see a complete list here.

For most small non-profits it’s simply a matter of going online to the IRS Website, supply the eight pieces of information for their 990-N form and file it before October 15, 2010.  For tax-exempt organizations eligible to file Form 990-EZ they must file their delinquent annual information returns by Oct. 15 and pay a compliance fee. Details about the VCP are on the IRS website.

For the complete post from MassNonprofit.org click here.

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