Monday, April 12, 2010

Is Your Society Right with the IRS?

This is a reminder that EVERY non-profit society needs to file an information return with IRS no matter how small your budget is.

If your income is less than $25000 a year it is very easy to file a 990N. Go to the IRS website's Charities and non-profits page http://www.irs.gov/charities/index.html?navmenu=menu1, for information on filing the different 990 returns.

To actually file a 990N return go to http://epostcard.form990.org/. If you haven't filed a return before you will have to register. Have your FEIN in hand as well as current contact information. It's quick, easy and painless.

The consequences of not filing are not painless, however. This is the third year of the requirement. If a society does not file for three years they can lose their non-profit status. This might result in having to reapply for that status.

So, please take the time to file your return.

If you are not the person responsible for filing the return, but would like to make sure that it has been done, you can search on this page http://www.irs.gov/app/ePostcard/

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