Non-profits have 5 weeks until deadline

Local News

Discussion

September 4, 2010

Staff Reports The Moultrie Observer The Moultrie Observer Sat Sep 04, 2010, 01:16 AM EDT

MOULTRIE — Non-profit organizations that do not file required documents with the Internal Revenue Service by Oct. 15 could lose their tax-exempt status.

Currently, 22 exempt organizations in Colquitt County are at risk of losing tax-exempt status, said Moultrie accountant Dennis W. Futch, of The Tax Shop in Moultrie.

A 2006 change in rules by Congress requires all non-profit organizations, requiring even those with gross income of less than $25,000 to file a return, Futch said. Beginning in 2007, any non-profit organization that does not file for three consecutive years will lose its tax-exempt status.

Churches are generally exempt from filing a return, he said.

“The original filing deadline was May 17, 2010,” Futch said. “However, the IRS recognized that many small non-profits had no idea this was happening so they now have until Oct. 15, 2010, to file.”

Losing tax-exempt status could be “devastating” to small organizations, Futch said.

Organizations can comply by visiting the web site www.irs.gov and completing Form 990-N. Organizations must supply eight items of information on the form.

Filling out the form is a relatively painless process, said Mark Green, an IRS spokesman based in Atlanta.

“It’s quick, it’s easy, there’s almost no paperwork,” he said.

It also can save a lot of headaches for both the organization and donors, he said.

“If you donate money to a non-profit that loses tax-exempt status, it could be a problem for the contributor,” Green said.

In some instances, it could mean amending a tax return because a donation made to an organization may not be tax-exempt if that organization did not comply with the law, he said.

“What we have found is that due to misinformation, a lot of smaller non-profits thought they didn’t have to file a return because they didn’t have a lot of income,” Green said. “Now is a good time to review the records. If you haven’t filed anything in the last three years, you need to do it.

“Oct. 15 is right around the corner, and the 990 status is really important for a lot of individuals who will be collecting money and having activities toward the end of the year.”

Text Only

Local News

Bingo Bash 2012
February 3, 2012 1 Photo
Former Moultrian falls to his death
A former Moultrian died Wednesday night after being pushed from a second-story walkway at his apartment complex in Bellingham, Wash., the previous day.

February 3, 2012
Convicted burglar sentenced to 14 years in prison
A man convicted in December on burglary and theft charges was sentenced Friday to a 14-year prison sentence.

February 3, 2012
Fires damage two homes
Stove fires damaged two homes this week, but no injuries were reported in either incident, Moultrie Fire Department reports said.

February 3, 2012
C.A. Gray Technology Fair winners
February 3, 2012 1 Photo
Drug charge added when police arrest theft suspect
A Meigs man charged with theft faces additional charges as suspected marijuana was found on him at the time of his arrest, Moultrie Police Department reports said.

February 3, 2012
CORRECTION: DUI charge
In a Jan. 28 report, The Observer said Ronald Craig Bass, 50, 4411 Dunn Road, Hartsfield, was charged Jan. 26 with driving under the influence, open container violation and probation violation in connection with a minor wreck on Camilla Highway. Excluding the probation violation charge, that information came from a Moultrie police report of a November 2001 incident.
Bass was charged with probation violation Thursday because all the penalties from the 2001 incident had not been paid. He paid the remaining penalties following his arrest, according to a Moultrie police report.
The Observer regrets the error.

February 3, 2012
Peanut Commission Research Report Day will be Feb. 8
The Georgia Peanut Commission will hold the annual Research Report Day Wednesday, Feb. 8, beginning at 9 a.m. at the National Environmentally Sound Production Agriculture Laboratory (NESPAL), located on the University of Georgia Tifton campus. The event provides growers and industry representatives an opportunity to hear the latest reports on research projects funded by GPC in 2011.

February 3, 2012
Boy Scouts help the needy with Scouting for Food program
Scouts of the Suwannee River Area Council, Boy Scouts of America will be collecting food today to help the hungry in the council’s 13-county service area, which includes Colquitt County.

February 3, 2012
Jury duty
February 3, 2012
More Local News Headlines

Should candidates for county positions have to run for a party's nomination?

Local News

Search Results

Discussion

Non-profits have 5 weeks until deadline

Should candidates for county positions have to run for a party's nomination?

Site Map

Contact Us