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IRS Offers One-Time Special Filing Relief Program for Small Charities

Thousands of small nonprofits in Florida risk losing their federal tax-exempt status. With a deadline already passed once before, The IRS has given an extension until October 15th to file a 990 form. This is likely the last reprieve Internal Revenue Service will provide.

The affected organizations are small non-profits — those with annual revenues of less than $25,000. Until a few years ago, small nonprofits didn’t need to file any annual reports with the IRS. But legislation has since been put into the books requiring all nonprofits to file an annual tax return.

The main purpose of the returns is to provide basic financial data about non-profits to potential donors and the general public. The IRS is also supposed to review the forms to make sure organizations are complying with federal tax law, although it actually examines fewer than 1 percent of the nearly 2 million filed annually.

Any non-profit organization that fails to file for three consecutive years loses its tax exemption.

If you need help, contact the UNF Small Business Development Center at 904-620-2476

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