Form 990-N Submission Changes Effective February 29, 2016

Higher Education|Not-for-Profit|Tax

By Sarah Piot

On January 28, 2016, the Internal Revenue Service (“IRS”) issued an exempt organization update for those organizations required to file Form 990-N, Electronic Notice (e-Postcard) for Tax-Exempt Organizations Not Required to File Form 990 or 990-EZ.  The update provided that, effective February 29, 2016, the electronically filed Form 990-N will be accepted only via www.IRS.gov.

Form 990-N is required to be filed annually by small, tax-exempt organizations that normally have annual gross receipts of $50,000 or less that do not file Form 990 or 990-EZ.   The due date for the Form 990-N is the 15th day of the 5th month after the close of an organization’s tax year.   While there is no penalty for late filing of the Form 990-N, organizations that fail to file the form for three consecutive years will automatically lose their tax-exempt status.  Revocation occurs on the filing due date of the third consecutively missed year.

Prior to this update, the Form 990-N has been electronically filed through the Urban Institute’s website.   Previously registered organizations may continue to use the Urban Institute website until February 28, 2016; however, effective February 29, 2016, Form 990-N will need to be filed through the IRS.   Before submitting Form 990-N, filers will be required to complete a short, one-time registration.

Contact us if you have questions regarding Form 990-N and visit our Tax Services page to learn more about the services that we offer our clients

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