Nonprofit organizations are required to file an information return annually. See our recent post for the details on this. Nonprofit organizations that don’t meet their filing requirements for three consecutive years automatically lose their tax-exempt status.
FEDERAL TAX BENEFITSUnder the federal Hiring Incentives to Restore Employment (HIRE) Act, two new tax benefits are available to employers who hire workers who were previously unemployed (“qualified employees”).
Tagged with: Connecticut
, Form 941
, Form W-11
, Small Business
, tax credit
, Tax-Exempt Status
All nonprofit organizations are required to file one of the IRS Form 990s. There have been some changes made to these forms that nonprofit organizations need to be aware of.