Saturday, May 8, 2010

INFORMATION FOR NON-PROFITS

If you are on any non profit boards, make sure that they have filed the necessary reports or they may lose their non-profit status. See the information below:

Tax Spotlight
990 nonfilers to start losing exempt status
Monday is the deadline for filing Form 990 (including the e-postcard for small tax-exempt organizations) for calendar-year exempt organizations. Under filing rules enacted in 2006, it is also the day that organizations that haven't filed for three consecutive years will automatically lose their exempt status.