Tuesday, September 14, 2010

IRS Offers Relief for Small Charities


On July 26, 2010, the IRS announced a one-time special filing relief program for small tax-exempt organizations that may be at risk of losing their tax-exempt status because they failed to file required returns.

Background - Prior to the enactment of the Pension Protection Act of 2006 (PPA), tax-exempt organizations with gross receipts of $25,000 or less were not required to submit information returns. The PPA requires small tax-exempt organizations not previously required to file Form 990 or 990-EZ to submit a new annual notice. Form 990-N was created to enable organizations to meet this requirement.

The new filing requirement does not apply to organizations specifically excluded from filing Form 990, including churches, church-related
organizations, governmental entities and affiliates of governmental units.

>>Read the full article here.

Questions? Contact Debi L. Ladyman, CPA, Partner at 317.383.4072 or
dladyman@bkd.com or Joe Vande Bosche, CPA, Partner at 317.383.4039 or jvandebosche@bkd.com .

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