If you are involved in a very small nonprofit - a PTA, a little league, etc. - heads up! You may not have had to file with the IRS in the past (if you had less than $25,000 in revenues), but there is a form you have to file now, and if you do not do so by May 17, you may lose your nonprofit status.
The IRS is concerned that word has not gotten out about this new requirement, and as many as 300,000 nonprofits may lose their status. I've heard/read stories about this in the Chronicle of Philanthropy and NPR over the past couple of days, so I'm doing my part to spread the word! You can find more information HERE.
http://www.irs.gov/newsroom/article/0,,id=222668,00.html?portlet=6 is a link to the IRS site with more information on this easy-to-file form.
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1 comment:
That's terrible news! A few friends and I have a nonprofit and we definitely haven't heard anything about this. Thanks for the heads up.
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