Tax Forms Due October 15th
October 15 is the final day to file your Form 990 Tax Forms for organizations with a May 31st year end (see below for the proper forms). Hundreds of thousands of small nonprofit organizations are at risk of losing their tax-exempt status because they failed to file required returns for 2010, 2011, and 2012. Each chapter in TKE needs to file, but you can get help from your alumni board of advisors, accounting professionals who are Fraters, or the Offices of the Grand Chapter. Please note the following information and make sure your chapter turns in the appropriate forms before the upcoming deadline.
Is your chapter budget under $50,000/ year? Click Here.
Is your chapter budget over $50,000/ year?
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Small organizations (less than $50,000/year in budget) required to file Form 990-N should go to the IRS Web site, supply the eight information items called for on the form, and electronically file the form by Oct. 15. That will bring them back into compliance. Under the Voluntary compliance Program (VCP), tax-exempt organizations eligible to file Form 990-EZ must file their delinquent annual information returns by Oct. 15 and pay a compliance fee. Details about the VCP are on the IRS website, along with frequently asked questions.
Please make a copy of your form and send it to the Offices of the Grand Chapter.
Organizations that have not filed the required information returns by that date will have their tax-exempt status revoked, and the IRS will publish a list of the revoked organizations.
If an organization loses its exemption, it will have to reapply with the IRS to regain its tax-exempt status. Any income received between the revocation date and renewed exemption may be taxable.
For more information, please contact:
Kyle Erdman
Communications Specialist
317.872.6533
KErdman@tke.org
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