HomeschoolCPA, Carol Topp, explains that homeschool groups may have lost their tax exempt status and not even know it in this episode of the Dollars and Sense podcast.
Many nonprofits did not know that in 2006 the IRS made filing an annual report (Form 990/990-EZ, 990-N) mandatory. Nonprofits that failed to file the Form 990 for three consecutive years had their tax exempt status automatically revoked.
Carol discusses how to know if your tax exempt status was revoked and how to get it back.
If you would benefit from a personal phone consultation, Carol would be happy to help your homeschool organization. Contact Carol.
Need to know more about the IRS annual report, Form 990/990-EZ/990-N? Carol’s podcast episode #36 Required IRS Reports for Homeschool Groups explains the Form 990.
Carol mentioned her book The IRS and Your Homeschool Organization. Available here.