Grantees and Nonprofit Clients May Be in Danger of Losing Tax-Exempt Status

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On May 17, 2010, the IRS begins the process of revoking tax-exempt status from nonprofits that failed to file three consecutive annual returns (Form 990-N, 990-EZ, 990, or 990-PF). "A large number of these organizations are smaller nonprofits that previously were not required to file an annual return because their gross revenues were $25,000 or less. These nonprofits now must file Form 990-N, which the IRS created in response to the Pension Protection Act" of 2006. Read more about these upcoming changes HERE.

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