Friday, July 30, 2010

IRS (USA) List of Organizations at risk of losing their tax-exempt status

Many of the (USA) JGSs have 501-C3 status- either individually or under the IAJGS umbrella. An article in a local newspaper this week alerted that many non-profits that have not done their required reporting (due May 17, 2010) for three consecutive years will automatically lose their tax-exempt status and the IRS is providing a one-time relief for organizations that have not satisfied their required filing requirements .

A 2006 law required nonprofit organizations with receipts of less than $25,000 to file tax returns for the first time in 2007. If charities failed to file for three years, they were going to lose their tax-exempt status.

The list of delinquent non-profits is listed on the IRS website and may be accessed by clicking here.

Organizations that were required to file Form 990 or Form 990-PF are not eligible to take advantage of this one-time IRS filing relief to bring them into compliance.

The article appeared in the Ventura County Star and can be read here.

Even if you are under the IAJGS umbrella for the 501-C3 your JGS must file its own IRS forms annually.

(JGSCV is under the IAJGS 501-C3 umbrella and we file the post card every year since the law was enacted...It takes very little time can be done on- line and only requires your federal EIN, submission form is 990-N, and year of reporting and you get an automated reply by e-mail for your records)

If you have questions, please do not ask me, ask your JGSs financial consultant/accountant or the IRS.

Jan Meisels Allen
President, JGS Conejo Valley and Ventura County

No comments:

Post a Comment

Comments are welcome. Please post responsibly.