New York, Chenango non-profits' tax exempt status could be at risk

ALBANY – U.S. Senator Charles Schumer has a new feature on his website he hopes will help non-profit groups across the state avoid costs associated with the possible loss of their tax-exempt status.

On June 8, the Internal Revenue Service released a list of 275,000 non-profits nationwide which automatically lost their tax exempt status for failing to file annual reports over a three-year time period, according to the senator. The list included 19,000 organizations located in New York, 6,000 in upstate New York and 34 in Chenango County.

“Little leagues, public libraries, museums, meal programs and other non-profit organizations that are the very fabric of communities throughout upstate New York are at risk of losing their tax-exempt status and paying thousands of dollars in penalties through no fault of their own,” said Schumer. “Whether because of a lost notice in the mail or paperwork errors, no non-profit should needlessly lose their tax exempt status.”

For decades, only large non-profit groups were required to submit an involved annual report detailing their activities, income and expenses, added the senator. The Pension Protection Act, passed by Congress in 2007, changed all that, requiring all tax exempt organizations, including small, community-based non-profits, to file as well.

There's more to this story! You're only seeing 26% of the story. Subscribe now to get immediate access to the rest of the story as well as our whole online offering.

Today's Other Stories

© 2018 Snyder Communications/The Evening Sun
29 Lackawanna Avenue, Norwich, NY 13815 - (607) 334-3276
Create an Account Forgot Password Help
pennysaver logo greatgetaways logo
We're on Facebook