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Nonprofits may lose tax-exempt status: Many at risk of missing deadline for filing new form with IRS
Groups reporting $25,000 or less in income with a fiscal year ending on December 31st are required to file a form, the 990-N, by Monday, or they could lose their tax-exempt status. Many have not heard of the new rule. It would make donations taxable until they could restore their status, and possibly wipe them out before that could happen. Churches are exempt, however.
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