Is Your Tax Exempt Status at Risk?

Are you a member of a club, association, or foundation that has tax exempt status?  Your organization may be at risk of losing its tax-exempt status soon.

The Pension Protection Act of 2006 initiated changes that require all tax-exempt organizations to file an annual return with the IRS, beginning in 2007.  Previously, organizations under a certain size were not required to file.

The Act also mandates that IRS revoke tax-exempt status of any organization failing to file for three consecutive years.  Many small organizations, which may have been unaware of the change in filing requirements, will lose their tax-exempt status for not having filed for 2007, 2008 and 2009.

Because of the large number of organizations in this situation, the IRS has provided relief by extending the 2009 filing deadline to October 15, 2010.

Columbia CPA Group is here to help.  If your organization is at risk of losing its tax-exempt status, please call for a complimentary initial meeting.  We would like to assess your situation and help you get your organization in compliance.  Please act now to avoid revocation of your organization’s tax exempt status!

More information is available at the IRS web site.