By Associated Press
Birmingham, AL – The Internal Revenue Service is getting ready to tell nonprofit organizations to send them a tax return.
Dan Boone, an I-R-S spokesman in Birmingham, said the agency is NOT taxing the groups, but asking for the information so they can keep on file. He said traditionally, if a nonprofit made less than 25-thousand dollars annually, there was no reporting requirement. But Congress changed that.
The I-R-S estimates there are almost 9-thousand-500 nonprofit groups that will be affected by the new requirement in Alabama alone. Boone said if they fail to send in a tax return three years running, the organization could lost its nonprofit status. The filings can be made electronically.
The I-R-S said they will be available to the public for inspection.
There are eight types of tax-exempt 501-3 organizations.
(Copyright 2007 by The Associated Press. All Rights Reserved.)