Nonprofit Law/Change tax year

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Question
Our Alumni wants to change the tax year from July 1 - June 30 to Jan 1 - Dec 31.  What can we do to make this happen.  Also, we want to be reinstated as a 501c10 because we lost ours due to not filing taxes for 3 years.  The non filing occurred before I became financial secretary and now I am trying to clean up.  Now we file as a corporation.  I have already filed taxes for 7/1 - 6/30/14.  

What advise can you offer to our Alumni?

Barbara Henderson, Financial Secretary

Answer
Note on pdf page 5, right column, of the IRS instructions to Form
990 which is available at:
www.irs.gov/pub/irs-pdf/i990.pdf
--- Start of Excerpt ---
Short period. A short accounting period is a period of less
than 12 months, which exists when an organization first
commences operations, changes its accounting period, or
terminates. ... If the organization changes its
accounting period, it must file a Form 990 for the short period
resulting from the change. Write "Change of Accounting Period"
at the top of this short-period return.
If the organization previously changed its accounting period
within the 10-calendar-year period that includes the beginning
of the short period, and it had a Form 990 filing requirement at
any time during that 10-year period, it must also attach a Form
1128 to the short-period return. See Rev. Proc. 85-58, 1985-2
C.B. 740.
---End of Excerpt---

The IRS has published, "If an organization has had its tax-exempt
status automatically revoked and wishes to have that status
reinstated, it must file an application for exemption and pay the
appropriate user fee even if it was not required to apply for
exempt status initially."
http://goo.gl/R3bbS

The IRS announced, early in 2014, new streamlined procedures that
allow for retroactive reinstatement for some smaller organizations.
"An organization that was eligible to file either Form 990-EZ or
990-N for each of the three consecutive years that it failed to
file, and that has not previously had its tax-exempt status
automatically revoked  pursuant to section 6033(j), may apply to
have its tax-exempt status retroactively reinstated effective from
the Revocation Date..."
http://www.irs.gov/pub/irs-drop/rp-14-11.pdf

Harvey Mechanic
Attorney at Law
Harvey108@hotmail.com

P.S. This response is intended to be a general statement of law, should not be relied upon as legal advice and does not create an attorney/client relationship.  

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Harvey Mechanic

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I am an attorney and I volunteer time to answer general questions about U.S. Federal income tax issues of nonprofit 501(c)(3) public charities only. Those questions could be about 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 questions about Nonprofit's possible unrelated or for-profit businesses or how to fill out forms. This forum is only for general questions about federal tax law, not as the law applies to your specific situation. If you do not make your question public then I will not be spending much of my donated time on answers that would not benefit the public. If you have other questions, please contact me at Harvey108@hotmail.com I will reply from my email. In any case, do not reveal confidential information to me until after I have contracted with you to provide personal legal services. My responses on this forum are intended to be general statements of law, should not be relied upon as legal advice, and do not create an attorney/client relationship. For me to consider your individual situation and how the law applies, I would need to gather extensive information about the situation. To search my previous answers you can do a Google search by "site:allexperts.com/q/nonprofit" without the quotes and then add your search terms before hitting enter.

Experience

I have been practicing law and especially the law of nonprofit organizations since 1990 when I was admitted to the New York Bar and I have maintained my status with the Bar since that time.

Education/Credentials

B.S. Columbia University in New York City, 1970

J.D. (Law Degree) Brooklyn Law School, 1990 -- Cum Laude.


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