Just passing on a heads-up for those members in the US of A.
--Scott Morris; Simcoe, Ontario, Canada
J. Scott Morris - Keep Smiling, Murphy Lives
--- On Fri, 5/7/10, D&J Edgar <djedgar@pacbell.net> wrote:
From: D&J Edgar <djedgar@pacbell.net>
Subject: [mg-tabc] Not TABC but club related
To: "TABC" <mg-tabc@yahoogroups.com>
Received: Friday, May 7, 2010, 8:26 PM
While this is not TABC specific,this may pertain to many MG clubs in the
United States.
If any of you are involved with tax-exempt non-profit organizations (car
clubs), you might want to check that they have filed their 990 return with the
IRS.
Small organizations were obligated to file by legislation in 2006, effective
the 2007 tax year. Not filing for 3 years will cause the loss of their tax
exempt status. As this was quietly passed many clubs and organizations may not
be aware of this. It could be very expensive to try and get the exempt status
reissued if you do loose it. This would be the third tax year since this was
passed so this would be the first year in which you could loose your tax
exempt status if you do not file. So ask your officers if this has been done
to save headaches later.
The 990 has to be filed to the IRS by MAY 17, 2010 if it has not been done
within the last three years. http://www.irs. gov/newsroom/ article/0,
,id=222668, 00.html
For the rest of you outside the US, sorry for taking up your time.
David Edgar, TC 5108
El Cajon, California
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