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]