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.
Churches and integrated auxiliaries of Churches are not required to file Form 990.
Starting this year, organizations that fail to file these information returns for three consecutive years will automatically lose their exempt organization status.
A list of the revoked organizations will be publicly available on the IRS website.
If an exempt organization fails to file and loses its exempt organization status, it will have to reapply for tax-exempt status. Moreover, any income that it incurs after it loses its exempt status, but before the application is approved may be taxable.
Form 990 (all series) is due on the 15th day of the 5th month after the organization’s taxable year ends.
For more information, please visit the IRS page on this topic.