This year could be a crucial moment for small non-profits.

Prior to 2007, organizations with annual budgets less than $25,000 were not required to file with the IRS, but the Pension Protection Act of 2006 made filing manditory, and a revocation of exempt status is the penality for not filing.

There was a three-year grace period for NPOs to file, but that's closing.

Gritty details from Nashville's Center for Nonprofit Management

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