The following is from a Oct. 14 press release from NC Congresswoman Virginia Foxx.
Foxx urges 100’s of local non-profits to update their tax-exempt status by tomorrow’s deadline
Washington D.C. – Congresswoman Virginia Foxx (NC-05) today urged local, community-based non-profits across North Carolina’s Fifth Congressional District to make sure their tax-exempt status is up-to-date with the IRS. The deadline to file with the IRS for small non-profits who may be at risk of losing their status is tomorrow, October 15.
“As many as 700 small non-profits in Northwest North Carolina could be at risk of losing their federal tax-exempt status if they don’t file a simple form with the IRS,” Foxx said. “By taking a half hour or so to electronically file the form by tomorrow, hundreds of small non-profits can maintain their tax-exempt status and avoid the hassle of trying to get their status back.”
The IRS’s October 15 filing deadline is for small tax-exempt organizations (those who typically have $25,000 or less in annual receipts) that have not filed to retain their tax-exempt status with the IRS for three consecutive years. Small non-profits are required to file a short postcard form with the IRS each year, called Form 990-N. It can be filed online at http://epostcard.form990.org/. Small non-profits that fail to file three years in a row can lose their tax-exempt status.
Many types of organizations that have not filed a Form 990-N are at risk of losing their tax-exempt status. These include local sports associations and community support groups, volunteer fire and ambulance associations, social clubs, educational societies, veterans groups, church-affiliated groups, as well as groups that assist those with special needs.
Local non-profits who want to learn more about this issue can visit the IRS web page at http://www.irs.gov/charities/article/0,,id=225705,00.html for more information on what organizations need to file, how to file and much more.
IRS Note: A list of North Carolina non-profits that may be at risk of losing their non-profit status is available at http://www.irs.gov/charities/article/0,,id=225889,00.html. This list may be incomplete, as certain organizations may be at risk even though their names do not appear. In addition, the list may include organizations that were required to file Form 990 or Form 990-PF and are not eligible for the relief program, and organizations whose filing dates have not yet occurred.