Friday, February 27, 2009
Update: Small Charities Must File
A few months back we reported that the Pension Protection Act of 2006 set forth a new requirement that small charities must file a 990-N in order to maintain their tax-exempt status. According to the IRS, as many as half a million nonprofits have not filed. If these charities fail to remedy the situation, then they stand to lose their tax-exempt status in 2010.