- April 24, 2014
Small charitable organizations qualify under section 501 (C)(3) of Internal Revenue Code are considered as small tax-exempt organizations provided that such entities qualifying for this privilege from IRS should not operate on a business motive in making a profit and share the benefit with the shareholders or partners or an individual. These tax-exempts should not forcefully or voluntarily engage to create some favorable rulings of their own for any business interest or in any circumstances show as an active organization promoting any campaign for or against political parties with a kind of giving the deceptive impression like that it is working for a business purpose. But the small tax-exempt charitable organizations following the rules of section 501 (c) (3) other than testing for public safety organizations are qualified to receive tax-deductible contributions from donors as per the IRC section 170.
These qualified small tax-exempt organizations must e-file 990-n e-postcard through IRS certified partner Tax2efile when their annual gross receivables are consistent $50,000 or less.
If such tax-exempt organizations are not filing their tax information returns by the due date every year which is 15th day of 5th month of the organization’s close of tax year, IRS will not penalize the tax-exempts but send reminder notice to them asking them to file information returns on time but if this trend of not filing tax information returns through e-postcard 990-n continues for three consecutive years then IRS will automatically revoke the tax-exempt status of these small tax-exempt charitable organizations but IRS will wait to confirm the revoking of tax-exempt status of the organizations till the filing due date of the third year.
In an accounting year, the tax year should end for any small tax-exempt organization to be able to file the information returns through e-postcard IRS 990-N.They must file IRS 990-n on or before the 15th day of 5th month (MAY 15th 2014), say when the tax year ends as for December 31st, 2013 for a small tax-exempt organization. But filing 990-n after May 15th, 2014 is considered as late filing and similarly filing 990-n before December 31st, 2013 will make IRS send a message advising the small tax-exempt organization that the tax year has not ended.
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- Certain important details of small tax-exempt organizations need to be provided for e-filing 990-n IRS e-postcard and they are as follows –
- Employer Identification Number also is known as TIN
- Tax Year
- Legal Organization name and address for mailing
- Any other name of Organization if applicable
- Name and address of the responsible officer
- Website address if available
- Confirmation on annual gross receipts normally $50,000 or less
- A statement required In case of organization closing down
- Now with all these details e-file IRS form 990-n e-postcard on or before 15th Every year May with the most reliable and trusted IRS certified partner Tax2efile
