LLTREASURER
Junior Member
undefinedWhat is the name of your state? NJ
I am the current treasurer of our local little league. It was recently discovered that we have not been a tax exempt 501c3 organization,although they thought they were for years. They have also never never filed any form 990 tax returns.
I recently obtained a valid fed tax ID for the organization, and I am going to file Form 990. OUr main issue is now that we are on the radar screen, will the IRS want the LL to pay back taxes?? Our org takes in between 50-75,000 dollars a year? Everyone says the IRS wont penalize the LL as it was an "honest mistake". I am wondering what the real odds are??
Thanks for your input and advice
I am the current treasurer of our local little league. It was recently discovered that we have not been a tax exempt 501c3 organization,although they thought they were for years. They have also never never filed any form 990 tax returns.
I recently obtained a valid fed tax ID for the organization, and I am going to file Form 990. OUr main issue is now that we are on the radar screen, will the IRS want the LL to pay back taxes?? Our org takes in between 50-75,000 dollars a year? Everyone says the IRS wont penalize the LL as it was an "honest mistake". I am wondering what the real odds are??
Thanks for your input and advice