New Form 990-N
The IRS has released the new Form 990-N (the electronic postcard) and electronic filing system, available online at http://epostcard.form990.org/default.asp. Tax exempt organizations that normally have annual gross receipts of $25,000 or less and do not have to file Form 990 or 990-EZ now must file a new electronic form—Form 990-N, more commonly known as the e-Postcard.
The filing process is completely electronic. Organizations will need to create a login ID, and then complete and submit the "postcard" online. Organizations will receive an email confirming whether the form has been accepted.
The e-Postcard is due by the 15th day of the fifth month after the close of the organization's tax year. Although it does not require specific financial information, it cannot be filed until the close of the organization's tax year. The IRS will revoke the tax-exempt status of any organization that fails to file the e-Postcard for three consecutive years.
The e-postcard requires very basic information only:
- Organization's legal name
- Any other names the organization uses
- Organization's mailing address
- Organization's website address (if applicable)
- Organization's employer identification number (EIN)
- Name and address of a principal officer of the organization
- Organization's annual tax period
- A statement that the organization's annual gross receipts are still normally $25,000 or less, and
- If applicable, a statement that the organization is terminating (going out of business).
For more information about which organizations need to comply and to learn more about the e-Postcard, see the IRS's website at:
http://www.irs.gov/charities/article/0,,id=169250,00.html.
