As the IRS and a chorus of others have been saying ever since Congress passed the new rules in 2006, every (that’s every*) nonprofit with tax-exempt status has to file a Form 990 every year. Organizations that fail to do that for three years in a row will lose (that’s lose) their tax-exempt status, and donors will no longer be able to claim a tax deduction for supporting them.
The final (extended) deadline is this coming Friday, October 15, 2010.
But, really, this is not the time for curiosity. If you care about an organization that’s at risk of losing its tax-exemption because it hasn’t been paying attention, or thinks the warnings aren’t serious, now would be the time to nudge, nag or just plain harass them into getting the necessary report to the IRS by Friday.
Back in May, the Commissioner extended the deadline until October 15, 2010. It won’t be extended again. They really, really mean it this time.
- * There actually is an exception for bona fide religious congregations; in general, groups that qualify for this exception know the rules and don’t have anything to worry about. If the leadership isn’t sure, though, now would be the time to figure it out.
[This blog entry appeared on an older version of Idealist; any broken links are a result of having re-launched our site in Fall 2010.]