Annual Tax Exempt Filing Requirement

Now that April 15th has passed, most people are not thinking about taxes anymore or even dealing with the IRS.  However, tax exempt organizations are not out of the woods just yet. 

Generally, all tax exempt organizations must file their annual statement by May 15th.  Tax exempt organizations with annual gross receipts of less than $25,000 must file Form 990-N, also known as the e-Postcard.  The e-Postcard is a simple, Internet-based form that asks a few identifying questions about the organization. The e-Postcard must be filed online; there is no paper option.

Other tax exempt organizations must file Forms 990, 990-PF, or 990-EZ.  Forms 990, 990-EZ and 990-PF for non-calendar year organizations are due on the 15th day of the 5th month following the end of their annual accounting period. 

However, due to the ever-fast-approaching May 15th deadline, tax exempt organizations may apply for an extension for filing their annual statements by filing Form 8868 by May 15th.

It is important for a tax exempt organization to file its annual statement with the IRS.  If it fails to do so for three consecutive years, it will automatically lose its tax-exempt status.

This entry was posted in Nonprofits. Bookmark the permalink.

Leave a Reply