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IRS Going After NonProfits

by | Jun 21, 2010 | non-profit, tax status

Nonprofit organizations that do not file 990’s can lose their exempt status. Previously, only nonprofit organizations that have more than $25,000 of income had to report. Now all month profits must report. The IRS is trying to promote the concept of this is to protect donors but in reality it just makes it much harder for a small nonprofit to remain in existence.

If you are a small nonprofit organization you must contact your tax lawyer right away to make sure you do not lose nonprofit status.