In 2007, the IRS began requiring all non-profit corporations of a tax-exempt 501(c)(3) status to file a Form 990.  Any non-profit corporation that fails to file such a return for 3 consecutive years will automatically forfeit its tax-exempt status.  If you currently operate as a non-profit organization and lose your tax-exempt status, not only will you have to begin paying taxes yourself, but donors to your ministry will no longer be able to claim their donations as charitable (non-taxed) giving.  Churches are are not affected by this requirement.  All other religious groups, ministries, etc. are required to file the yearly return with the IRS. 

So…if you are a non-profit and did not file a return for 2007 or 2008, you now have until the 15th of the fifth month following your fiscal year-end (May 15, if your fiscal years ends Dec. 31) to file a form 990 for 2009 to avoid missing the requirement for three consecutive years.  If you don’t file, prepare to receive a letter from “Uncle Sam” notifying you that you have lost your tax-exempt status!

For more information, visit http://www.irs.gov/charities/article/0,,id=217087,00.html.