Smaller Nonprofits Must File IRS Form 990-N to Remain Tax-Exempt
- Friday, 15 May 2015 08:22
Your nonprofit may need to file e-Postcard Form 990-N or risk losing its tax-exempt status.
In 2008, the IRS introduced a new form for smaller nonprofits: Form 990-N (the Electronic Notice (e-Postcard) for Tax-Exempt Organizations Not Required To File Form 990 or 990-EZ
Before this form was issued, nonprofits with annual gross receipts under $25,000 didnât have to make any annual filings with the IRS.
Congress passed this tax-filing requirement to stay up to date with active nonprofits and maintain a current database.
How do you know if you can file a 990N postcard rather than a 990EZ or 990 tax return? If your nonprofit has less than $50,000 in annual gross receipts for the year, you can file a 990N postcard.
The form 990-N is simple to complete, will take about 15 minutes to fill out and you can even submit it electronically (hence the term e-Postcard.)
It is important to remember to file this form by May 15 or you risk losing tax-exempt status. Contact us
for more information on filing your nonprofit returns!