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Foxx urges 100's of local non-profits to update their tax-exempt status by Oct 15 deadline
Washington, DC,
October 14, 2010
Congresswoman Virginia Foxx (NC-05) today urged local, community-based non-profits across North Carolina's Fifth Congressional District to make sure their tax-exempt status is up-to-date with the IRS. The deadline to file with
Contact: 202-225-2071 Congresswoman Virginia Foxx (NC-05) today urged local, community-based non-profits across North Carolina’s Fifth Congressional District to make sure their tax-exempt status is up-to-date with the IRS. The deadline to file with the IRS for small non-profits who may be at risk of losing their status is October 15. “As many as 700 small non-profits in Northwest North Carolina could be at risk of losing their federal tax-exempt status if they don’t file a simple form with the IRS,” Foxx said. “By taking a half hour or so to electronically file the form by tomorrow, hundreds of small non-profits can maintain their tax-exempt status and avoid the hassle of trying to get their status back.” The IRS’s October 15 filing deadline is for small tax-exempt organizations (those who typically have $25,000 or less in annual receipts) that have not filed to retain their tax-exempt status with the IRS for three consecutive years. Small non-profits are required to file a short postcard form with the IRS each year, called Form 990-N. It can be filed online at http://epostcard.form990.org/. Small non-profits that fail to file three years in a row can lose their tax-exempt status. Many types of organizations that have not filed a Form 990-N are at risk of losing their tax-exempt status. These include local sports associations and community support groups, volunteer fire and ambulance associations, social clubs, educational societies, veterans groups, church-affiliated groups, as well as groups that assist those with special needs. Local non-profits who want to learn more about this issue can visit the IRS web page at http://www.irs.gov/charities/article/0,,id=225705,00.html for more information on what organizations need to file, how to file and much more. IRS Note: A list of North Carolina non-profits that may be at risk of losing their non-profit status is available at http://www.irs.gov/charities/article/0,,id=225889,00.html. This list may be incomplete, as certain organizations may be at risk even though their names do not appear. |