The following article by Alexander “Sandie” Pendleton sounds an alarm to many non-profit organizations including those related to sport and recreation. Many are not aware of the new regulation requiring an annual filing by all non-profit organizations. Failure to comply will prove costly. Go to http://www.irs.gov/charities/article/0%2C%2Cid=225889%2C00.html to find out if yours is in jeopardy.
Many Non-Profit Sports Organizations in Danger of Losing Tax-Exempt Status
According to the Internal Revenue Service,