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Tax-Exempt Organizations Required to File Form 990 by May 17

If you are a tax-exempt organization, you may be interested in this one. 

May 17, is the deadline for non-profit organizations to file form 990 with the Internal Revenue Service.  This is a requirement in order to preserve tax-exempt status. 

Specifics

  • This requirement is for non-profit organizations, with the exception of churches and church related organizations, to file an information form with the IRS.  
  • This requirement is mandated by the Pension Protection Act of 2006.   2009 was the third year of filings under this law that took effect in 2007. 
  • Organizations who do not file by the May 17 th deadline, risk having their tax-exempt status revoked. 
  • Organizations who do not file their form 990 for three consecutive years will automatically lose their federal tax-exempt status.  This exemption loss will be effective as of the filing due date.
  • The form 990 returns are due five months after an organization’s fiscal year ends.  Many organization’s fiscal year ends at the end of the calendar year, so the deadline is May 15 for those organizations.  Since May 15 is a Saturday in 2010, the actual deadline will be Monday, May 17. 
  • Organizations who need an extension, may file form 8868 by the original due date, but there is no grace period without an extension filing.
  • Non-profit organizations with $25,000 or fewer revenues may file an e-Postcard, Form 990 electronic notice. 
  • Non-profits with greater than $25,000 in revenues must file form 990 or 990-EZ. 
  • For private foundations, the form to file is 990-PF.
  • The IRS website has a complete list of revoked organizations available to the general public.
  • Once an organization loses its tax exemption, it will be required to reapply to regain its tax exempt status.
  • Income that the organization receives after the exemption is revoked will be taxable until the exemption is renewed.

If you are a non-profit organization, now is the time to make sure you have your filings started or get your form 8868 request for an extension into the IRS.   The deadline is fast approaching.

This Business article was written by Kathy Clark on 5/8/2010

Kathy Clark is an MBA who is passionate about helping small business owners see their vision come to life through business development and growth. She writes for, and is the founder of The Thriving Small Business.