Tax update from IRS - for small nonprofits


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Are you a small nonprofit ($50K budget or below)? Read on - this information may help you with 2010 taxes!

In mid-January, the IRS announced that certain small nonprofit (tax-exempt) organizations may be able to simplify their 2010 annual information reporting. The IRS has made a change that will allow more of these organizations to file the e-Postcard instead of the Form 990 or the Form 990EZ.

The threshold for tax-exempt organizations to file an e-Postcard used to be "gross annual receipts" of $25,000 or under. It has now been changed to $50,000 or less. This is for the tax years beginning on or after January 1, 2010.

Click here for details.

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