IRS announces extended deadline for nonprofits at risk of losing tax-exempt status
The Internal Revenue Service announced a one-time relief program Monday that will help thousands of small nonprofits at risk of losing their tax-exempt status, including more than 4,000 Oklahoma nonprofits. Small nonprofits that failed to file the Form 990-N by the May 17 deadline now have until October 15 to preserve their tax exemption.
The requirement for small nonprofits to file an online return is part of the Pension Protection Act passed in 2006 to help the IRS keep better track of active organizations of all sizes and determine which nonprofits no longer exist. Charitable organizations with annual revenues of $25,000 or less were not required to regularly file returns in the past. Under the new law they must now file an annual online return, called a Form 990-N or “e-postcard,” which provides basic information about the organization.
Nonprofit groups that fail to file returns by the extended October 15 deadline will have their tax-exempt status revoked, and the IRS will publish a list of those revoked organizations early next year. Donors who contribute to at-risk organizations are protected until the final revocation list is published.
View a list of organizations at risk of losing tax-exempt status and access the Form 990-N here.
