Tuesday, September 16, 2014

Tax-exempt groups must file with IRS by Thursday

By The Herald Staff | 5/14/2014

WASHINGTON — Another tax deadline is looming — this one for the more than 16,600 tax-exempt organizations in Kansas.

Such groups are required to file an Internal Revenue Service Form 990-series information return or notice for 2013. The deadline is Thursday.

Tax-exempt organizations with average annual receipts above $50,000 must file a Form 990 or 990-EZ depending on their receipts and assets, the IRS said Wednesday. Private foundations file a Form 990-PF. Those with average annual receipts of $50,000 or less may file an electronic notice called a Form 990-N (e-Postcard). Churches and church-related organizations are not required to file annual reports.

The IRS cautions all tax-exempt organizations not to include Social Security numbers or other unneeded personal information on their Form 990. By law, both the IRS and most tax-exempt organizations are required to publicly disclose most parts of form filings, including schedules and attachments.

“The IRS urges organizations to file electronically to reduce the risk of inadvertently including Social Security numbers or other unneeded personal information,” Michael Devine, IRS spokesman, said.

Organizations that need additional time to file a Form 990, 990-EZ or 990-PF may obtain an extension. There is no extension is available for filing the Form 990-N. By law, organizations that fail to file required annual reports for three consecutive years will see their federal tax exemptions automatically revoked.

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