May 29, 2008 | Read Time: 1 minute
The Internal Revenue Service is reminding the smallest nonprofit groups about their deadlines to comply with a new federal requirement to file annual informational returns.
Tax law requires nonprofit groups with $25,000 or less in annual revenue to file the new Form 990-N, known as an “e-postcard,” to file informational tax returns by the 15th day of the fifth month after the end of a fiscal year. For those organizations operating on a calendar year, for example, the deadline was May 15. Previously, small groups were exempt from filing any returns with the IRS.
To inform organizations of the new requirement, the IRS recently posted an online question-and-answer page to help charities comply; the page is available on the tax agency’s Web site.
The IRS also explained the new procedures in a news release.
The Form 990-N requires only basic information, such as the name of a principal officer, a mailing address, and confirmation that gross receipts total less than $25,000. But if an organization fails to file the Form 990-N three years in a row, the IRS will automatically revoke its tax-exempt status.
