Half a Million Nonprofits Could Lose Their Federal Tax Exemptions, GuideStar Warns
Failure to file new IRS form 990-N could lead to loss of exempt status for smaller nonprofits
Feb. 10, 2009, WASHINGTON, DC and WILLIAMSBURG, VA — GuideStar, the leading provider of nonprofit information, reports that half a million nonprofits could find themselves stripped of tax-exempt status in May 2010.
According to IRS estimates, that's how many smaller organizations have failed to file a Form 990-N.
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