Don’t Lose Your Tax Exempt Status!!

If you are a nonprofit, make sure you don’t lose your tax exempt status.

According to an April 23 article in the New York Times, a “new law, embedded in the 393 pages of the Pension Protection Act of 2006, also directed the Internal Revenue Service to revoke the tax exemptions of groups that failed to file for three consecutive years. Three years have passed, and thus the deadline looms.”

That deadline is midnight, May 15.

If you think you are too small to file taxes, think again. Even nonprofits with less than $25,000 in revenues have been required to file since 2006.

Read more details in the NYTimes article here:

http://www.nytimes.com/2010/04/23/us/23exempt.html?scp=1&sq=non-profits&st=cse

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This entry was posted in business, money, Non-profit, nonprofit, tax, tax-exempt, Uncategorized and tagged , . Bookmark the permalink.

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