Monday, June 21, 2010

Automatic Revocation for Not Filing Annual Return or Notice

Most tax-exempt organizations, other than churches, must file a yearly report or notice with the IRS. If an organization does not file as required for three consecutive years, the law provides that it automatically loses its tax-exempt status. Loss of exempt status means an organization must file income tax returns and pay income tax, and its contributors will not be able to deduct their donations.

To read more! Automatic Revocation for Not Filing Annual Return or Notice Source: InfoTaxSquare Business Documents Filing In All Fifty States!

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