A crucial filing deadline of May 15 is looming for many tax-exempt organizations that are required by law to file a Form 990 return or risk having their federal tax-exempt status revoked. Any organization that fails to file for three consecutive years automatically loses its federal tax-exempt status.
Beginning in 2008, small tax-exempt organizations (annual revenue of less than $25,000) will have a new Internal Revenue Service filing requirement. It's short, easy and electronic - it's the new e-Postcard. The form 990N e-postcard is now available on the IRS website. You should not need a CPA to help your organization file this easy form.
If you are a tax-exempt organization that normally has annual gross receipts of $25,000 or less and does not have to file Form 990 or 990-EZ, you must file the e-Postcard. The e-Postcard is due by the 15th day of the fifth month after the close of your tax year. So if your organization operates on a calendar year, the e-Postcard is due by May 15 of the following year.
Tax-exempt organizations with annual receipts above $25,000 must file a Form 990 or 990-EZ. You can request an extension by filing Form 8868 by the original due date. Absent a request for extension, there is no grace period.
Again, any tax-exempt organization that has not filed the required form in the last three years automatically will lose its tax-exempt status effective as of the due date of the annual filing. Under a provision included in the Pension Protection Act of 2006, the IRS does not have discretion in this matter.
Nonprofits that wish to have their exemptions reinstated will be required to re-apply to the IRS for tax-exempt status, a process that can take several months and may require an additional fee.
If you think this new filing requirement may apply to your organization, go to www.irs.gov/eo for complete details and while you're there sign up for Exempt Organization's free email newsletter, EO Update, to receive up-to-date information posted on the charity pages of irs.gov.
For additional information you may also check the NH Attorney General’s Charitable Trust Division website http://www.doj.nh.gov/site-map/charities.htm and the NH Center for Non-Profits website http://www.nhnonprofits.org/index.cfm
You may also check the list complied by the National Center for Charitable Statistics to see if your organization is at risk. http://nccsdataweb.urban.org/PubApps/990search.php