3,000 Va. nonprofits fail to file with IRS
A national organization that monitors charitable organizations says more then 3,000 nonprofit groups in Virginia risk losing their tax-exempt status because they haven't filed a tax notification in three years.
GuideStar's analysis of July figures from the Internal Revenue Service shows that the number of at-risk groups is down from 5,000 in June. The June figures did not include notifications filed right at the May 17 deadline.
Until 2006, tax-exempt nonprofits with gross receipts of less than $25,000 didn't have to file with the IRS. Congress changed the law to require annual filing and to revoke nonprofit status for any organization that didn't file for three years. The first three-year period ended in May.
Information from: Richmond Times-Dispatch, http://www.timesdispatch.com
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