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Tax Exempt Organization Filings

The filing requirement for most tax-exempt organizations has changed. Clayton & McKervey does not provide services to this type of entity; however, if you are associated with a civic organization, business league, chamber of commerce, social club, etc., that met the exemption for filing due to gross receipts under $25,000, we wanted you to be aware of these changes.

Most tax-exempt organizations, other than churches, are required to file annual returns or notices with the Department of Treasury. If the organization fails to file for three consecutive years, they will automatically lose tax-exempt status, be required to file an annual income tax return and pay income taxes, and contributors will not be able to deduct donations. The filing deadline this year is Monday, May 17, for organizations that have a calendar year end. Below is a guide to the filing requirements depending on the type of organization and financial activity:

Gross receipts normally less than $25,000 Note: organizations that are eligible to file the e-postcard may choose to file a full return (990-EZ or 990)
Filing requirement: 990-N (e-postcard)

Gross receipts less than $500,000 and total assets less than $1,250,000
Filing requirement: 990-EZ or 990

Gross receipts greater than or equal to $500,000 or total assets greater than or equal to $1,250,000
Filing requirement: 990

Private foundation (regardless of financial activity)
Filing requirement: 990-PF

Organizations eligible to file the e-postcard may do so electronically by visiting epostcard.form990.org. There is no paper form to file. You must have eight items of basic information about your organization available to file the e-postcard, as follows:

Employer Identification Number
Tax year
Legal name and mailing address
Any other names the organization uses
Name and address of the principal officer
Web site address (if applicable)
Confirmation the organization's annual gross receipts are normally $25,000 or less
If applicable, a statement that the organization has terminated or is terminating (going out of business)

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