LA nonprofits at risk of losing tax-exempt status
POSTED: Thursday, October 14, 2010 - 12:49pm
UPDATED: Thursday, October 14, 2010 - 12:50pm
BATON ROUGE, La (WVLA) – Friday, Oct. 15 is the last day to file taxes if you applied for an extension back in April. On the eve of tax day, thousands of small Louisiana non-profit organizations are in the hot-seat to get the work done.
A nonprofit organization could lose their tax-exempt status if they fail to file in time. The IRS created a one-time relief program to help more than 5,000 Louisiana organizations so they can keep their status by filing late federal returns that were due from 2007-2009.
“We are doing everything we can to help organizations comply with the law and keep their valuable tax exemption,” IRS Commissioner Doug Shulman said in a press release. “So if you do not have your filings up to date, now’s the time to take action and get back on track.”