Tax-Exempt Status: Help the IRS Help You

Susan C. Hammond

As provided in the IRS Exempt Organization Update, Issue 2010-20:

The IRS needs your help to prevent tax-exempt organizations in your community from losing their tax exemption.  Tax-exempt organizations, except churches and church-related groups, that fail to file for three consecutive years . The IRS is providing one-time relief to allow small tax-exempt organizations to come back into compliance by October 15, 2010, and retain their tax-exempt status even though they failed to file for three consecutive years. The IRS has published a list of over 300,000 organizations at risk of losing their exemption because the IRS has no record of their filing for 2007, 2008 or 2009.

If you are a volunteer, member or just a friend of an organization at risk of losing its exemption, please alert the organization and encourage it to go to IRS.gov and find out how the organization can come back into compliance today.

Susan C. Hammond, principal of scHammond Advisors, consults with nonprofits on board governance, strategic planning, improving financial intelligence, and the formation of advisory boards or councils.  She is a consultant, speaker, facilitator, and author.  She previously served as the CFO for a museum and other nonprofit organizations. Susan recently published the Advisory Board Kit: A Comprehensive Guide to Establishing an Advisory Board.  Hear Susan speak at the Mass Nonprofit Network 2010 Fall Conference September 27th.

Join us for our next Networking for Non-Profit Event September 30th!