New Tax Law Will Affect Mose Voitures!
In August of 2006, President Bush signed into law the Pension Protection Act of 2006. Its main focus is directed towards pension reform, however, the act also includes charitable reform provisions to regulate tax-exempt organizations. This includes Voitures and American Legion Posts. Prior to the act of 2006, Voitures and Posts with less than $25,000.00 gross receipts annually did not have to file an Annual 990 Information Report with the IRS. Now, however, under Section 1223 of the Pension Protection Act of 2006, tax exempt organizations with gross receipts of less than $25,000.00 annually will be required to file an Annual Notice with the IRS.
The filing organizations must provide the following information to the IRS: - The legal name of the organization
- Any name under which the organization operates or does business
- The organization’s mailing address and web site address if any
- The organization’s taxpayer identification number
- The name and address of the principal officer
- Evidence of the continuing basis for the organization’s exemption from the filing requirements of Form 990.
The new law will require most Voitures and American Legion Posts that were not previously required to file 990’s because their annual gross receipts were less than $25,000.00 to now file an annual electronic notice, Form 990-N, Electronic Notice (e-postcard) for Tax-Exempt Organizations not required to file Form 990 or Form 990 EZ. This requirement applies to tax periods beginning after December 31, 2006, and is due the IRS on the 15th day of the fifth month following the end of your fiscal year. Failure to file can result in loss of your tax-exempt status; penalties and interest accrue.
More information about the postcard (Form-990N) is available at:
IRS Web Site: www.irs.gov.eo ### |
What is the Forty and Eight?
The Forty & Eight is committed to charitable and patriotic aims. Our purpose is to uphold and defend the United States Constitution, to promote the well being of veterans and their widows and orphans, and to actively participate in selected charitable endeavors, which include programs that promote child welfare and nurse's training.
The titles and symbols of the Forty & Eight reflect its First World War origins. Americans were transported to the battle front on French trains within boxcars stenciled with a “40/8”, denoting its capacity to hold either forty men or eight horses. This uncomfortable mode of transportation was familiar to all who fought in the trenches; a common small misery among American soldiers who thereafter found “40/8” a lighthearted symbol of the deeper service, sacrifice and unspoken horrors of war that bind all who have borne the battle.
The Forty & Eight was founded in 1920 by American veterans returning from France. Originally an arm of The American Legion, the Forty & Eight became an independent and separately incorporated veteran's organization in 1960. Membership is by invitation of ALL honorably discharged veterans and honorably serving members of the United States Armed Forces. ### |
