Form 990 – All non-profits must file!


Updated May 18: IRS Commissioner Doug Shulman issued a statement, reversing earlier IRS statements, to "reassure these small organizations that the IRS will do what it can to help them avoid losing their tax-exempt status." He also stated, “the IRS will be providing additional guidance in the near future on how it will help these organizations maintain their important tax-exempt status -- even if they missed the May 17 deadline."

Schulman urged organizations that missed the May 17th deadline to go ahead and file anyway.

Text of original alert:
Even the smallest nonprofit organizations are now required to file a version of Form 990. Starting May 17, 2010, organizations that have not filed a 990 for three consecutive years will automatically lose their tax exempt status on the due date of their return: the 15th of the fifth month following the end of their fiscal year – May 15 for calendar year filers (May 17 this year since May 15 is a weekend) Organizations with gross receipts of $25,000 or less may file the 990-N e-postcard, with 8 simple questions.

The consequences for not filing are significant! Organizations that lose their exempt status may no longer receive tax deductable contributions and must pay taxes on their revenues.  Click here for an IRS notice that discusses this requirement.

Some experts believe that up to a quarter of all nonprofit organizations could lose their tax exempt status next week. Please help to ensure that our land trusts aren’t among them!

The Land Trust Alliance has created a Detailed Guide to the New Form 990 with information about the form and filing thresholds for the 990-EZ and 990-N, which have changed since last year. View Guide

K. McGrath
Programs Manager
Mass Land Trust Coalition