From: "Bernstein, Rick A - WHS" <Rick.Bernstein@wisconsinhistory.org> Date: Wed, 2 Jun 2010 12:32:44 -0500 Subject: Info on Filing Your IRS Form 990 Message-ID: <1EA45D5A75EBB747A54A4F1905DE558B01E8F07084F1@MEWMAD0PC01G03.accounts.wistate.us>
Here is some new info about the filing of IRS Form 990 for tax exempt organ
izations with revenue under $25,000 a year.
IRS offers reprieve for charities missing deadline<http://www.google.com/ur
l?q=http://www.google.com/hostednews/ap/article/ALeqM5jJ4-eGtf44TjjP4Q9h8
wgik78zggD9FPG32G0&sa=X&ei=VJIGTIaXN8SBlAfGgNHKCg&ved=0CDMQqQIoAjAA&u
sg=AFQjCNEFm46_k7AIee60pTFgv0Yosjbe4A>ý - The Associated Press
"The Internal Revenue Service is offering a reprieve to more than 200,000 s
mall charities that missed a tax filing deadline and are now in danger of l
osing their tax-exempt status.
A 2006 law required nonprofit organizations with receipts of less than $25,
000 to file tax returns for the first time in 2007. If charities fail to fi
le for three years, they lose their tax-exempt status. The law excludes chu
rches.
Monday was the 2010 filing deadline, but IRS Commissioner Doug Shulman said
his agency will issue guidance soon on how charities that missed the deadl
ine can keep their tax-exempt status."
NONPROFITS: A second chance for 990 Form non-filers<http://savannahnow.com/
column/2010-05-29/nonprofits-second-chance-990-form-non-filers> - Savannah
Morning News
"Nonprofits with gross revenues of under $25,000 can file a regular 990 for
m if they prefer or may choose to file the much less complex 990-N (e-Postc
ard). The latter is only available in an online version, at http://epostcar
d.form990.org<http://epostcard.form990.org/>.
Per the IRS, you only need eight pieces of information to file this form, s
o there's no need or excuse to delay. You'll need your nonprofit's employer
identification number (EIN), the tax year you are filing for, your nonprof
it's legal name and mailing address, other names the organization uses if a
ny, the name and address of a principal officer, your nonprofit's website a
ddress, if one exists, verification that your nonprofit's annual gross inco
me is $25,000 or less, and if your nonprofit has terminated service, a stat
ement to that effect.
Again per the IRS, your nonprofit does not have to file the 990 form if it
is included in another group return, if it is a church or if your organizat
ion is otherwise required to file a different return. However, due to the c
omplexities of tax law, you would be wise to check with a tax accounting fi
rm that is experienced in dealing with nonprofits."
If this is an issue your historical organization is facing, its well worth
reading both of these articles.
Rick Bernstein
Field Services-Southern Region
Wisconsin Historical Society
608 264 6583
Collecting, Preserving and Sharing Stories Since 1846