| New IRS Requirements May Affect Your Divison |
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| Sunday, 21 October 2007 | |
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Beginning in 2008 the IRS will be requiring non-profits that gross under $25,000 to start filing an annual electronic notice. Previously, if your division grossed under $25,00 then you did not have to file a return. Organizations that fail to file this electronic form will lose their tax-exempt status. The IRS has not net enabled their electronic filing system.
The full details, FAQ, forms, and an email subscription are available on the IRS website at: http://www.irs.gov/charities/article/0,,id=169250,00.html |
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