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Exempt organizations are required to file with the IRS annually regardless of the amount of gross receipts they receive.  Those whose gross receipts are normally under $50,000 file Form 990-N electronically.

If you miss 3 years in a row, you will automatically lose your exempt status.  Make sure you do this simple filing.

In May, 2011, the Internal Revenue Service revoked the tax-exempt status of over 275,000 organizations.  Over 7,000 of them were in Washington State.  These organizations had not filed required annual reports (Forms 990, 990-EZ or 990-N) for three consecutive years.

This is a serious problem if you are one of those organizations.  Your organization may now be subject to income tax requiring you to file corporate income tax returns.  More important, your donors are no longer able to claim a deduction for their donations to you.

These organizations have an opportunity to be reinstated.  They must file an application for exemption and pay the applicable user fee.  If they want the reinstatement to be retroactive, they also must file the delinquent required annual reports.

 

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