Attention 501(c)(3) nonprofit organizations: You need to file with the Internal Revenue Service on or before Wednesday.
Tax-exempt organizations are required to file annually, and this year’s deadline comes on May 15, according to an IRS release.
Organizations will see their federal tax exemptions automatically revoked if they have not filed reports for three consecutive years.
The Pension Protection Act of 2006 mandates that most tax-exempt organizations file annual Form 990-series informational returns or notices with the IRS. The law also imposed a new annual filing requirement on small organizations. Churches and church-related organizations are not required to file annual reports, the release stated.
Organizations that need additional time to file may obtain an extension.
Small tax-exempt organizations with average annual receipts of $50,000 or less may file an electronic notice called a Form 990-N (e-Postcard), which asks organizations for a few basic pieces of information. Tax-exempt organizations with average annual receipts above $50,000 must file a Form 990 or 990-EZ, depending on their receipts and assets. Private foundations file a Form 990-PF.