Wednesday, May 19, 2010

IRS Allows Small Charities a Reprieve From Deadline - Tax Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

IRS Allows Small Charities a Reprieve From Deadline - Tax Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: "The Internal Revenue Service has announced that it will help small charities keep their tax-exempt status even if they missed the May 17 deadline for filing a new online form.

Doug Shulman, the IRS commissioner, said in a statement that the IRS had conducted an 'unprecedented outreach effort' to explain the new law, which requires charities with annual revenues of $25,000 or less to file a Form 990-N, or 'e-postcard.' Those failing to file for three consecutive years lose their tax exemptions."

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