Annual Filing Requirement for Tax-Exempt Organizations

                                            

          By:  Gregory D. Willett                  

Since 2007, tax-exempt organizations (other than churches), regardless of the size of their gross receipts, have been required to file yearly forms with the IRS.  If a tax-exempt organization fails to file these forms for 3 consecutive years, the organization's tax-exempt status will be automatically revoked.  So if you are a calendar-year tax-exempt organization that has not filed your required form for 2007, 2008, and 2009 by May 16, 2010, you will lose your tax-exempt status.  The form that you must file with the IRS is outlined below.

  • Gross Receipts normally less than $25,000:  Form 990-N (e-postcard)
  • Gross Receipts less than $500,000 and Total Assets less than $1.25 million:  Form 990-EZ
  • Gross Receipts greater than $500,000 and Total Assets greater than $1.25 million:  Form 990
  • Private Foundations:  Form 990-PF
  • Churches and Integrated Auxiliaries of Churches:  No Annual Filing Required

Please do not hesitate to contact a member of our Taxation & Estate Preservation Practice Group if you need additional information or have any questions.

For more information, visit us on the web at cbslawfirm.com.
Or contact our office:

1000 Tallan Building
Two Union Square
Chattanooga, TN 37402
P (423) 756-3000
F (423) 265-9574

Copyright 2012. Chambliss, Bahner, and Stophel, P.C. All Rights Reserved.

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