Did your nonprofit organization lose your tax exempt status?
What’s this all about?
In 2010, the IRS has begun revoking the tax-exempt status nonprofit organizations that failed to file a Form 990/990EZ or 990N for three years.
A large number of these organizations are small nonprofits that were not required to file an annual Form 990 because their gross revenues were $50,000 or less and didn’t know about the new IRS requirement.
If your organization has not filed any of the 990/990EZ/990N forms for three years, it is likely your tax exempt status was revoked.
How will I know if my organization has lost its tax-exempt status?
The IRS may have sent a letter. If not, read more here…
OK, I think our tax exempt status was revoked! Now what?
Don’t panic. The IRS has a procedure to get your tax exempt status reinstated. It involves paperwork (the IRS loves paper) and filing fees of $275 or $600.
Here’s a flowchart I designed to explain the IRS procedure in pictures.
We need help getting through this!
I recommend contacting NonprofitElite.com. They work with homeschool groups are are very familiar with helping groups get reinstated. And their fees are very reasonable!
Carol Topp, CPA