January 11, 2007 | Read Time: 1 minute
TAX WATCHBy Elizabeth Schwinn
Beginning with the 2006 tax year, charities with $10-million or more in assets must file their Form 990 federal informational tax returns via the Internet, the Internal Revenue Service says.
The electronic filing requirement was first applied last year to charities with assets of $100-million or more, as well as to all private foundations and charitable trusts.
Last year, 14,609 nonprofit groups — including 1,203 private foundations — filed their returns online. Of those, 3,014 organizations filed a 990-EZ, the simplified informational return for charities.
Charities that are required to submit their returns electronically but lack the necessary technology to do so, or that would otherwise find online filing a financial hardship, can seek a waiver from the requirement, the IRS says. The tax agency publishes a list of approved providers that supply the software necessary to file forms online. The products range in price from free to hundreds of dollars.
More information about the Internet filing requirement is available online.
