AboutHarvey Mechanic Expertise Federal tax issues of nonprofit 501(c)(3) public charities only. Establishing and maintaining legal requirements for such non-profit organizations in the United States, including Internal Revenue service filings and requirements. I will not be working on this free forum to answer question about Nonprofit's Unrelated Business or how to fill out forms. This forum is only for legal questions about a specific nonprofit asked by members or those otherwise directly effected by the specific nonprofit organization.
Experience I have been practicing law and especially the law of nonprofit organizations since 1990 when I was admitted to the New York Bar.
Expert: Harvey Mechanic Date: 7/15/2008 Subject: No income - Tax filing
Question I incorporated a small organization as a nonprofit in the State of Ohio. I
received an EIN but never formed a Board of Directors, filed form 1023,
opened a bank account or generated any income or expenses. Is the
organization required to file any tax forms?
Thank you.
Answer This forum is only for federal tax questions regarding 501(c)(3) public charities as I have explained in my profile. The IRS requires a 990-N filing for a nonprofit corporation that has zero income. Organizations with income of at least $100,000 or total assets of at
least $250,000 must file the Form 990 for the 2007 tax year. Those
exempt organization with gross receipts of less than $25,000 do not
have to file an annual return (Form 990 or Form 990-EZ) but will
have to file a Form 990-N, or e-Postcard.
The text of the Act is at
www.dol.gov/ebsa/pdf/ppa2006.pdf on page 311
Even though the IRS requires the filing of form 990-N your organization will probably not be effected, as the only downside is that the IRS would revoke exemption status and your organization is not on the list of exempt organizations that the IRS maintains. Therefore, the IRS would not be revoking such status.
You would also need to check with the State of Ohio as to their filing requirements.
Harvey Mechanic
Attorney At Law
Harvey108@hotmail.com
