February 6, 2003 | Read Time: 1 minute
Charities in U.S. possessions — American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, Puerto Rico, and the U.S. Virgin Islands — that raise no more than $25,000 a year in the United States and have no significant activity there need not file an annual federal Form 990 informational tax return, the IRS has ruled.
Charities that are based overseas and operate in the United States, as well as U.S. charities, are already exempt from filing rules if they receive $25,000 or less annually.
The policy was announced in Revenue Ruling 2003-21, which will be published in Internal Revenue Bulletin 2003-6. Revenue rulings from the IRS are designed to help the public by stating the government’s official position on aspects of tax law.
