Mounted search and rescue

[Una Smith <una.smith@att.net>]

Irv, you describe the old rules.  The 990-N is new, and I guess the idea
is to begin capturing data on small tax-exempt orgs.  The only question
I had was does this new rule apply to those many tiny tax-exempt orgs with
under $5000 -- the ones required to *not* file any 990 and not required
to file a 1023 or 1024.  The new regs (URL below) answer that:  all are
now required to file 990-N.

The 990-N is online only, and it involves only the following info:

* Employer identification number (EIN) / Taxpayer Identification Number (TIN)
* Tax year
* Legal name and mailing address
* Any other names the organization uses
* Name and address of a principal officer
* Web site address if the organization has one
* Confirmation that the organization' annual gross receipts are normally
  $25,000 or less
* If applicable, a statement that the organization has terminated or is
  terminating (going out of business)

This can be ignored for 2 years in a row with minimal consequences;  if
ignored for 3 years in a row the major consequence is loss of tax-exempt
status.

More:  http://www.irs.gov/charities/article/0,,id=169250,00.html
Regs:  http://www.irs.gov/pub/irs-tege/epostcard_tregs111507.pdf

(Title of the temporary regs:  "Notification Requirement for Tax-Exempt
Entities Not Currently Required to File")

        Una Smith
        New Mexico