IRS Cuts Small Charities Some Slack

Interal Revenue Service Commissioner Doug Shulman says "the IRS will do what it can to help [small charities] avoid losing their tax-exempt status."

He was speaking of the perhaps 300,000 charities with annual revenues under $25,000 which failed to make a special filing of Form 990N (e-postcard) by midnight, May 17. Many of the charities may be defunct; however many may just be small charities that were unaware of the new filing, and the deadline.

Calling these organizations "vital to communities across the United States," Schulman said "I understand their concerns about possibly losing their tax-exempt status."

The IRS will be issuing additional guidance in the near future, but, Schulman said "I urge these organizations to go ahead and file — even though the May 17 deadline has passed."

For the full text of the IRS Commissioner's statement, click here.