Insights
Lost Your Tax-Exempt Status? How to Regain it.
Vasquez + Company LLP News Brief
Authored by Regina Prince
So you forgot to file your not-for-profit's Form 990, 990-EZ or 990-N with the IRS. It can happen — particularly with newer organizations that are still trying to get a handle on all the financial and regulatory requirements of running a nonprofit. However, if you forget to file three years in a row, you could face an automatic revocation of your tax-exempt status. This is serious because it means your donors can't deduct their contributions. But it doesn't have to be final.
Read the full news brief here.
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