Upcoming Training: 'How to Start a Nonprofit
Organization'
When: August 22, 2008, 8:30am to 12:30pm
If you are considering starting a
nonprofit organization, or have taken the first
steps towards doing so, you won't want to miss
this training.
Visit
North Valley Community Foundation
for details and registration.
New Law in 2008 Requires Federal Earned
Income Tax Credit Notification
As of January 1, 2008 California employers are
required to notify their employees about the
availability of the federal Earned Income Tax
Credit (EITC).
Written notification must be provided to
employees in person or by mail.
Notification must be provided within one week
before or after, or at the same time, that you
provide an annual wage summary, including, a
Form W-2 or a Form 1099.
For additional information on this requirement
visit EDD's Web site at
www.edd.ca.gov/eddeitc.htm.
Don’t Throw Away Your Tax-Exempt
Status
Beginning in 2008, small
tax-exempt organizations will have a new filing
requirement. It’s short, easy and electronic –
it’s the new e-Postcard.
If you are a
tax-exempt organization that normally has annual
gross receipts of $25,000 or less and does not
have to file Form 990 or 990-EZ, you must file the
e-Postcard. The e-Postcard is due by the 15th day
of the fifth month after the close of your tax
year. So if your organization operates on a
calendar year, the e-Postcard is due by May 15 of
the following year.
What happens if you
don’t file? You risk losing your tax-exempt
status!
If
you think this new filing requirement may apply to
your organization, go to: www.irs.gov/eo
for complete details and while you’re there sign
up for Exempt Organization’s free email
newsletter, EO Update, to receive up-to-date
information posted on the charity pages of http://www.www.irs.gov/.