Just Checking

Did you know that tax exempt organizations are 2 times more likely than tax payers to be late with filing annual returns with the IRS? There are approximately 1.4 million registered organizations in the United States (IRS, October 2, 2014). Of this number, 579,114 registered organizations, or 40%, lost their tax exempt status as a result of not filing Form 990 for three years in a row.  Just two years ago, there were approximately 1.2 million nonprofit organizations with about 32% losing their tax exempt status for failing to file Form 990 three years in a row.  In contrast, about 85% of individuals and corporations file their income taxes (Form 1040) on time. Make sure your organization has completed the necessary filings to maintain tax exempt status.  Valerie F. Leonard will give an overview of all the filings organizations need to file at the federal and state levels in order to maintain compliance. You may download a supplemental article at https://www.scribd.com/doc/74798266/Just-Checking-Nonprofit-Compliance

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Visit Valeriefleonard.com.  Archived episodes may be found at http://Valeriefleonard.com/NonprofitU, iTunes and Stitcher.