Monday, May 10, 2010

Austin Daily Herald | Some nonprofits could lose tax exempt status

Austin Daily Herald | Some nonprofits could lose tax exempt status: "More than 7,500 nonprofits in Minnesota, including at least 30 in Mower County, could lose their tax exempt status if they don't file a 990-N tax return with the IRS by May 17. Previously, nonprofit groups that raised less than $25,000 a year didn't have the file tax returns. However, a law passed in 2006 changed that, and many of the affected organizations are unaware of the change."

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