IRS Filing Deadline May Threaten Tax Exempt Status

May 17th, 2010

By Aaron Harrison

May 17, 2010 presents an important deadline for many non-profit organizations in the United States.  IRS regulations have historically not required filings from non-profits that earn less than $25,000 in annual revenue, however the Pension Protection Act of 2006 has altered this standard. 

The PPA provides that any tax exempt entity that fails to file an informational Form 990-N with the IRS on or before the 15th day of the 5th month following the end of the tax year for that entity (May 15th for calendar year taxpayers) in any three year period will have its non-profit status suspended, regardless of whether their revenue was below $25,000 for that year, or each previous year of non-filing.

The law does not apply to churches and religious organizations.

Tax exempt entities may file an electronic postcard in order to comply with the deadline.

More information is available directly from the IRS.



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