At-risk charities should file soon

Small nonprofit organizations at risk of losing their tax-exempt status because they failed to file required returns for 2007, 2008 and 2009 can preserve their status by filing returns by Oct. 15, 2010, under a one-time relief program, the Internal Revenue Service announced recently.

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 info, contact Dan Boone, IRS Media Specialist for Alabama and Tennessee at 800-829-1040 or visit Irs.gov.