April 19, 2007 | Read Time: 1 minute
- The IRS is reminding small charities and other nonprofit organizations that, beginning next year, they will have to file information annually with the tax agency. Charities and other tax-exempt organizations that have income of $25,000 or less per year must file the electronic notice, known as the e-Postcard or Form 990-N, to inform the IRS of their current address and contact information. Organizations that fail to send the IRS an e-Postcard within three years will automatically lose their tax-exempt status and must re-apply for an exemption. More information about the Form 990-N is available online.
- Rhode Island has passed a law that bars the state’s tax agency from considering an individual’s gifts to charity in determining whether the individual should pay income taxes in that state. At issue was whether “snowbirds” who live part of the year in both Rhode Island and Florida, but consider Florida their home state, might stop donating to nonprofit groups in Rhode Island to avoid paying the state’s income taxes.
- Members of a New Hampshire town council are appealing last month’s decision by the Hillsborough County Superior Court that an artist’s colony deserves its exemption from local property taxes. The Peterborough, N.H., officials will ask the New Hampshire Superior Court to overturn the lower court’s ruling that the MacDowell Colony is a charity because artists at the colony create works that support the public good.
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