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Not For Profit/Exempt Organizations Blog

Monthly Archives: April 2010

Health Care Tax Credit is Now Available for Some Tax-Exempt Organizations

Posted in IRS Filings

Under the recently enacted health care reform legislation, many small businesses and tax-exempt organizations are now eligible for a new federal tax credit. This credit is designed to encourage small employers to offer health insurance for the first time or maintain coverage they already have.

IRS Reminds Exempt Organizations to File Form 990 to Preserve Exempt Status

Posted in IRS Filings

Earlier this year, the IRS reminded all exempt organizations that, regardless of their size, they must file the Form 990 on time in order to preserve their tax-exempt status. Starting this year, organizations that fail to file these information returns for three consecutive years will automatically lose their exempt organization status.