IRS Revises Procedure for Reinstating Tax-Exempt Status | Foundation Group: "Form 990 requirement was either Form 990-N or Form 990-EZ, can apply for retroactive reinstatement by filing a new Form 1023, along with Form 990-EZs for those years in which it was required, but missed. If any or all of the missed years required Form 990-N, they do not have to be filed in arrears. Reasonable cause will now be assumed and not required to be articulated in writing. In addition, late filing penalties for the prior year Form 990-EZs will be abated. This is no small change to the process and one that should benefit thousands of small organizations dealing with lost exemptions.
It should be noted that this Revenue Procedure does not change the requirements for larger nonprofits seeking reinstatement of tax-exemption. They will still be required to provide definitive reasonable cause and will not have late filing penalties waived."
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