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New Tax Issues and Laws that Might Affect Your Business published by Godecke Clark New Income Tax Legislation that Might Affect Your Individual Income published by Godecke Clark ENTERPRISE ZONE 2007 published by Godecke Clark Changes to California Real Estate Withholding Law published by the Franchise Tax Board Employee Reimbursement Plans published by Godecke Clark Income Attributable to Domestic Production Activities published by Godecke Clark Beware of Scams Provided on the IRS Website IR-2008-88, July 10, 2008 11/28/2007 - Tax Exempt Organizations - Tax-exempt organizations with gross receipts of $25,000 or less were previously not required to submit information returns. More than 650,000 small tax-exempt organizations may be required to submit a new annual notice, Form 990-N (Electronic Notice (e-Postcard) for Tax-Exempt Organizations not required to File Form 990 or 990-EZ). Legislation now requires that any organization that fails to meet its annual reporting requirement for three consecutive years automatically lose its tax-exempt status under the new law. If that happens, an organization that wants to regain its exempt status will then have to reapply for recognition as a tax-exempt organization.
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