Never easier to obtain tax-exempt status

The Internal Revenue Service recently introduced a new, shorter application form to help small charities apply for 501(c)(3) tax-exempt status more easily. The new Form 1023-EZ, available today on IRS.gov, is only three pages long, compared with the standard 26-page … Continue reading →

Missing May 15 filing due date could cause loss of tax-exempt status for many nonprofits

Filing Requirement. Most nonprofit organizations know and follow the requirement to file either Form 990, 990-EZ, 990-PF  or 990-N (e-Postcard) on or before the 15th day of the fifth month after year-end.  For most organizations, that date is May 15. In addition, tax-exempt … Continue reading →

New Form 1023-EZ for easier 501(c)(3) exempt status application

The draft Form 1023-EZ, “Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code,” announced in the Federal Register March 31, is a shorter and less burdensome version of the Form 1023. Most small exempt organizations … Continue reading →

IRS webinar on Form 990

The Internal Revenue Service will be presenting a webcast for Filing Tips for nonprofit organizations for their Form 990, Return of Organization Exempt from Income Tax.  Topics include: Preparing the Form 990-series return Managing legal risks more effectively Avoiding penalties … Continue reading →

Many nonprofits losing exempt status…

Over 275,000 nonprofit organizations recently received notification from the IRS of the revocation of their tax-exempt status.  This is due to the Pension Protection Act in 2006 which requires tax-exempt organizations to file an annual Form 990 or e-Postcard notice with the IRS, … Continue reading →