Tax Law Blog
Posts from April 2014.
Posted by: Nicholas M. Oertel
Many nonprofit corporations are exempt from federal income tax pursuant to Section 501(c)(3) of the Internal Revenue Code. Until relatively recently, many of those tax-exempt nonprofits were not required to file annual Form 990 series returns. That all changed with the Pension Protection Act of 2006. Now, all tax-exempt nonprofits are required to file an annual Form 990 series return. If a tax-exempt organization fails to do so for three consecutive years, then its federal income tax exemption is automatically revoked - - no questions asked.
How Do You Know If Your Tax-Exempt Organization Has Lost Its
501(c)(3) Status?
The IRS maintains a list of organizations that have had their 501(c)(3) status revoked.
Categories: Nonprofit
