Failure to file new IRS form 990-N could lead to loss of exempt status for smaller nonprofits

The Pension Protection Act of 2006 requires exempt organizations (nonprofits the IRS has designated as exempt from federal income taxes) that do not meet the income threshold for filing an annual return (IRS Form 990 or one of its variants) to provide certain information to the IRS each year. The IRS created Form 990-N for this purpose, and smaller nonprofits began filing it in 2008.