Form 990 Deadline Extended

Submitted by Jorina Fontelera on Mon, 07/26/2010 - 17:03

Small non-profits at risk of losing their tax-exempt status because they failed to file required returns for 2007, 2008 and 2009 by May 17 have gotten a reprieve from the IRS.

The IRS announced Sunday that small non-profits who missed the May deadline can preserve their status by filing returns by Oct. 15. Small tax-exempt organizations can file Form 990-N, Electronic Notice (e-Postcard) on the IRS website and those who are eligible to file Form 990-EZ can enter a voluntary compliance program (VCP). The VCP allows these organizations to file their delinquent annual information returns by Oct. 15, but they must also pay a compliance fee.

The extension does not apply to large non-profit organizations required for file Form 990 or to private foundations that file the Form 990-PF. Small non-profit organizations that fail to file by new deadline will lose their tax-exempt status.

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