“At midnight on May 15, an estimated one-fifth to one-quarter of some 1.6 million charities, trade associations and membership groups will lose their tax exemptions…” Be sure you know the status of your nonprofit tax exemption. Read more:
Nonprofits will be losing their tax exemptions for not filing an annual return – the 990, 990-EZ or 990-N – in three years. For this reason, more foundations are requiring nonprofits to submit a IRS Determination Letter, dated within 3 years, to prove they have not lost their tax exempt status. Be prepared for your next grant by requesting a new IRS Determination or Affirmation Letter. You can contact the IRS Tax Exempt and Government Entities Customer Account Services at (877) 829-5500.