The IRS has announced the launch of a simple electronic filing system that small tax-exempt organizations may use to comply with a new law requiring them to file an annual return. Now that tax-exempt organizations that normally have annual gross receipts of $25,000 or less must file an electronic Form 990-N for tax years beginning in 2007, the organizations will have to provide a few basic pieces of information:

  • Employer identification number
  • Tax year
  • Legal name and mailing address, and any other names used
  • An Internet address if one exists
  • The name and address of a principal officer and a statement confirming the organization's annual gross receipts are normally $25,000 or less

The due date for filing Form 990-N is the 15th day of the fifth month after the close of the tax year. Organizations that do not file Form 990-N for three consecutive years will lose their tax-exempt status. The IRS also has launched a disclosure site on where the public can view a particular organization’s e-Postcard.