A FORM THAT IS DUE NOW: FORM 990N

Many people work with small groups such as a PTA, soccer team, or pet rescue group. These small nonprofits often raise a few thousand dollars each year, and the person who keeps the check book changes frequently. There are thousands of these groups and the Internal Revenue Service is now in the process of updating its records to reflect the current status of the individual not-for-profits.For tax years ending on December 31, 2007, and thereafter, Form 990N, or the e-Postcard, must be filed by most not-for-profits whose gross receipts are normally $25,000 or less.

The return is due on the 15th day of the fifth month after the organization's year end. If the organization fails to file this return for three consecutive years, it will loose its exempt status.

The return must be filed electronically. The IRS has partnered with the Urban Institute for this purpose and the form can be filed by accessing the filing site at:

http://epostcard.form990.org/

The following information will need to be completed:

Employer identification number
Tax year
Legal name and mailing address
Any other names the organization uses
Name and address of the principal officer
Website for the organization (if available)
Confirmation that the organization's annual gross receipts are normally $25,000 or less
If the organization no longer exists, a statement to that effect should be included

As with much IRS guidance, there are exceptions. Organizations that do not need to file include those included in group returns and churches and their related organizations.

Further, some smaller organizations are required to file other forms, regardless of their size. For example, private foundations must file Form 990PF. Section 509(a)(3) supporting organizations must file either Form 990 or Form 990EZ.

Ms. O'Malley may be reached directly at pomalley@rubino.com. For more information about Rubino & McGeehin, please visit http://www.rubino.com/ or call 301.564.3636.