Important Information from the New Jersey Center for Nonprofits (Source: NJLA listserve)

IRS to Begin Revoking Tax Exemptions May 17 for Failure to File

This article also available online at http://www.njnonprofits.org/CheckIRSRevocation.html

Thousands of New Jersey nonprofit organizations - including as many as 5,600 public charities - could be in danger of losing their tax exemptions if they don't submit required information filings to the IRS by May 17th. Is yours one of them?

Under the federal Pension Protection Act of 2006, exempt organizations that fail to file required Form 990 annual information returns (or, in the case of small organizations, the Form 990-N e-postcard) for three consecutive years will have their tax exemptions automatically revoked by the IRS effective on the filing due date of the third year. The Form 990 or e-postcard is required to be filed annually by the 15th day of the 5th month following the end of an organization's fiscal year.

The first round of revocations will begin May 17, 2010. If tax exemption is revoked, the only way to reinstate it will be to reapply (at a fee of as much as $850).

You can save your tax-exemption by checking your filing status online! The Urban Institute's National Center for Charitable Statistics has developed a simple tool to find out if you may need to file. Here's how in three easy steps:

Go to http://nccsdataweb.urban.org/PubApps/statePicker.php?prog=epostcard&display=state . Select "New Jersey" as the state and enter your nonprofit's name on the next page. If there is an alert "FILE NOW" by your nonprofit's name, then You may need to file a 990 or 990-N (e-postcard) by May 17 in order to avoid having your nonprofit's tax-exempt status automatically revoked by the IRS. (NOTE: The "file now" link will take you directly to the E-postcard electronic filing site. Your filing requirements may differ. See http://www.irs.gov/charities/article/0,,id=217087,00.html for more details.) Thousands of New Jersey nonprofit organizations - including as many as 5,600 public charities - could be in danger of losing their tax exemptions if they don't submit required information filings to the IRS by May 17th. Is yours one of them?

Under the federal Pension Protection Act of 2006, exempt organizations that fail to file required Form 990 annual information returns (or, in the case of small organizations, the Form 990-N e-postcard) for three consecutive years will have their tax exemptions automatically revoked by the IRS effective on the filing due date of the third year. The Form 990 or e-postcard is required to be filed annually by the 15th day of the 5th month following the end of an organization's fiscal year.

The first round of revocations will begin May 17, 2010. If tax exemption is revoked, the only way to reinstate it will be to reapply (at a fee of as much as $850).

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