IRS Cuts Small Charities Slack

(5-18-10) Further to our April 28 post, "Nonprofit 'Doomsday'", based on a New York Times story on the 2006 Pension Protection Act, the new filing requirements for charitable organizations, and the impending loss of nonprofit status to the thousands of charities who are not in compliance:

The Internal Revenue Service has announced that it will help small charities keep their tax-exempt status even if they missed the May 17 deadline for filing a new online form...

Doug Shulman, the IRS commissioner, said in a statement that the IRS had conducted an "unprecedented outreach effort" to explain the new law, which requires charities with annual revenues of $25,000 or less to file a Form 990-N, or "e-postcard." Those failing to file for three consecutive years lose their tax exemptions....

For the full Chronicle of Philanthropy story, click here.