Attn Leather Guilds And Other Non-Profits

[Johanna]

All non-profits, including leather guilds, 4-H, and local groups (with the exception of churches) MUST file an annual return, even if donations are less than $25K, the old ceiling. Groups and clubs with non-profit status that fail to file the paperwork risk being taxed on their revenue and donors will owe tax on contributions. The deadline for filing is midnight tonight, but you can apply for a three month extension.

Hundreds of thousands of small non-profits, from Little League teams to community soup kitchens, could lose their tax-exempt status on Monday because of an IRS filing requirement.The 2006 Pension Protection Act included a provision requiring all non-profits to file an annual return with the IRS.

Previously, non-profits with annual revenue of less than $25,000 were excluded. Non-profits that fail to file a return for three consecutive years lose their tax-exempt status. On May 17, the three-year clock runs out for non-profits that haven't filed a return since 2007.

Non-profits with less than $25,000 in annual revenue can file a 990-N, an abbreviated online form.

From USAToday

For more info, see the IRS site.

Johanna