BEAUMONT, TX (News Release) - By Donna McCollum - email
NACOGDOCHES, TX (KTRE) - The deadline for small non-profits to mail their tax information to the IRS is today.
Some made it, in order to hold onto their non-profit status. Others didn't.
Gayle Sones is treasurer for the Old North Church Cemetery. IRS Form 990, a tax form now required all non-profits with revenue of less than $25,000 or more. They need to file it or risk losing their non-profit status. Sones is not concerned. She pays an accountant to handle such matters.
"I knew that there were some changes coming, but I thought, 'Ah-ha!,' we're safe," Sones said.
The Art League never received a letter from the IRS about the rule change, so members are using their artistic license and not worrying too much.
"I'm not sure it was intended to cover non profits as small as we are, but there are a lot of shady things go on under the guise of legitimate organizations that does need some oversight," R.G. Dean said.
That's why Nacogdoches County United Way knows to carefully screen all applicants applying for grants.
The IRS is giving non-profits a chance to bring themselves into compliance with the law.
Donors to affected groups will be able to take deductions for gifts until the group receives formal notification.