I stumbled across this from the New York Times and thought I'd pass it
along.

One-Fourth of Nonprofits Are to Lose Tax Breaks

As many as 400,000 nonprofit organizations are weeks away from a
doomsday.

At midnight on May 15, an estimated one-fifth to one-quarter of some
1.6 million charities, trade associations and membership groups will
lose their tax exemptions, thanks to a provision buried in a 2006
federal bill aimed at pension reform.

"It's going to be an unholy mess once these organizations realize
what's happened to them," said Diana Aviv
<http://www.independentsector.org/senior_staff> , president of the
Independent Sector, a nonprofit trade group.

The federal legislation passed in 2006 required all nonprofits to
file tax forms the following year. Previously, only organizations
with revenues of $25,000 or more - or the vast majority of nonprofit
groups - had to file.

For the complete story go to:
http://www.nytimes.com/2010/04/23/us/23exempt.html

[Posted in FML 6680]