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  • 1.  FORM 990N

    Posted 04-24-2014 11:58 AM

    A client just informed me that he has been a treasurer of an association for the last 10 years and nothing has ever been filed.

    A look at the IRS website revealed that for organizations with less than $50,000 of gross revenue a form 990n must be filed. This is basically a postcard with no penalties for late filing, however if it is not filed for 3 years the organization is stripped of it's tax exempt status.

    Any ideas on how to proceed?


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    Terry Ehrlich
    CPA
    EHRLICH & COMPANY, CPAs LLP
    Jericho NY
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  • 2.  RE:FORM 990N

    Platinum Most Valuable Member
    Posted 04-24-2014 03:31 PM
    Hi Terry,
    I had to re-file form 1023 for two nonprofits who had done the same.  Up until a few years ago, the IRS left them alone but like everything else they began cracking down on NFPs that did not comply.  It is now very difficult to use the "I didn't know" argument.  They are expected to know. 
    I wish I had a better answer for you but I don't know of any way around filing a whole new application for exemption.
    Sandy

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    Sandra Johnson
    SANDRA JOHNSON, CPA PC
    Bellmore NY
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