An update to the "2007 Brings Another Form to File" blog I posted in June.
The IRS has announced that it began mailing educational letters to more than 650,000 small tax-exempt organizations that may be required to submit a new annual notice. Non-profit organizations that normally have no more than $25,000 of annual gross receipts (but not churches) will be filing the new Form 990-N, "Electronic Notice (e-Postcard) for Tax-Exempt Organizations Not Required to File Form 990 or 990-EZ.
The IRS expects to mail the letters over a period of several months, finishing in December. See the attached sample letter available at the IRS website. If the IRS does not have a current mailing address, your non-profit may not receive a letter. However, the filing requirements must still be met to avoid losing your tax-exempt status.
The new form will be for tax periods beginning on or after January 1, 2007 and will be due by the 15th day of the 5th month after the close of each tax period, (ie., May 15 for a calendar year).
This annual form will must be filed electronically, there will be no paper form.
For more information, please go to www.irs.gov/eo, or email me directly.
