Tuesday, December 22, 2009

Some Easy Information From the IRS to Help Nonprofit Organizations Keep Their Status and Remain In Compliance

As reported by Grant Williams, today, in The Chronicle of Philanthropy's web post, "Tax Agency Issues Guidebook for Charities" the IRS has released a booklet for nonprofit leaders that addresses general nonprofit operations, reporting, and tax filing requirements; and that also addresses what can jeopardize a nonprofit's official 'charity' status with the IRS (possibly resulting in the nonprofit losing its 'tax exempt' status).

The IRS booklet, "Compliance Guide for 501(c)(3) Charities" is a free .PDF file available for download. (Click on the booklet's title at the beginning of this sentence to view and download it. If you cannot view the web page after clicking on the link, go to www.adobe.com and download the latest (free) version of Adobe Acrobat Reader (it will be on the adobe.com website's homepage) and then after downloading Acrobat Reader return to the link, click on it, and view the booklet). If you do not have access to read or print online, you may also order the booklet from the IRS, for free, by calling the IRS and requesting the booklet by its name.

Also, very helpful, the IRS has also created a series of nonprofit - specific courses (some of which can be taken online at any time) to help nonprofit leaders keep in compliance with tax reporting. The courses explain what is required when filing a nonprofit's tax forms annually, ultimately helping you to keep the organization in good standing. The IRS' web page explaining the series of classes is available at Online Courses at StayExempt.irs.gov and the program's official website is IRS Stay Exempt - Tax Basics for Exempt Organizations.

Finally, as always, the IRS has all of its information for nonprofits located at Tax Information for Charities & Other Non-Profits.

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