(Full article first published in the February 22, 2011 issue of Bruce R. Hopkins Nonprofit Counsel, which was available to subscribers electronically on that date.)
The IRS, on January 13, issued formal guidance concerning the annual filing and submission requirements for tax-exempt organizations, for tax years beginning on or after January 1, 2010 (Rev. Proc. 2011-15). One of the principal elements of this guidance is reiteration of the new threshold of $50,000 (previously $25,000) for exempt organizations that are not required to file an annual information return with the IRS (Form 990 or 990-EZ).
The filing/submission rules, applicable to entities that are tax-exempt pursuant to IRC § 501(a) by reason of description in IRC § 501(c), now are as follows:
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