For the first time this year, thousands of small nonprofits with annual revenues of under $25,000 must file forms or information postcards with the Internal Revenue Service. Those that miss filing deadlines could have their tax-exempt status revoked and could have to pay $750 to go through the application process all over again.
The change stems from a law passed by Congress 3 years ago intended to better track nonprofit organizations. Before then, those with revenues less than $25,000 were not required to file at all.
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