Aplos Software and Foundation Group Partner To Assist Nonprofits Facing Loss Of Tax-Exempt Status

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Aplos Software and Foundation Group have partnered to assist nonprofits facing IRS automatic revocation of their tax-exempt status due to failure to file an IRS Form 990 for three consecutive years.

Authorized IRS E-file Provider
We wanted to provide nonprofits who have lost their tax-exempt status a trust option that will help them continue achieving their mission.

Aplos Software, LLC, an authorized IRS e-file provider, announced today they will partner with Foundation Group, Inc. to assist nonprofits who have lost their tax-exempt status due to failure to file Form 990 for three consecutive years. Nonprofits needing to regain their tax-exempt status will be referred to Foundation Group’s http://www.501c3.org to request a free initial consultation to review their tax-exempt status and available options.

“Every day we see nonprofits use Aplos e-File to prepare Form 990-N or Form 990-EZ, only to realize it is too late and they have already lost their tax-exempt status for failing to file for the past three years,” said Tim Goetz, founder of Aplos Software. “We partnered with Foundation Group because when we tell them the bad news, we wanted to also provide them with a trusted option that will help them continue achieving their mission.”

According to the IRS Exempt Organization FY 2012 Annual Report, since 2011 more than 450,000 nonprofits have lost their tax-exempt status due to failure to file a Form 990 for three consecutive years, but only about 30,000 have reinstated their tax-exempt status. The deadline to request reinstatement is 15 months after the issue of the IRS revocation letter and posting the organization’s name on the revocation list on the IRS website (IRS Notice 2011-44). Nonprofits may check to see if they have been automatically revoked by using the Select Check tool on the IRS website.

“The process to regain your tax-exempt status can be complex, but if they don’t seek reinstatement they could face significant federal corporate taxes and possible state penalties, plus their donations would no longer be tax-deductible,” said Greg McRay, president of Foundation Group. “It is possible to be reinstated, but it often requires the assistance of an experienced professional to help navigate the regulations, paperwork and penalties.”

Foundation Group has successfully assisted hundred of nonprofits in regaining their tax-exempt status since the IRS started posting automatically revoked organizations in June of 2011. Since their foundation in 1995, they have also worked with over 10,000 nonprofits in establishing their 501(c)3 status with the IRS.

Aplos Software is an authorized IRS e-file provider and has assisted thousands of nonprofits to successfully file IRS Form 990-N and IRS Form 990-EZ. The IRS requires nonprofits to submit Form 990 annually to maintain tax-exempt status.

The deadline to submit Form 990 is the 15th of the fifth month after the close of the organization’s tax year. For example, if an organization’s fiscal year ended December 31, 2012 and their new fiscal year starts January 1, 2013, then their filing deadline is May 15, 2013.

About Foundation Group
Foundation Group began in 1995 and specializes in nonprofit formation and compliance services. While based in Nashville, Tennessee, the organization serves thousands of nonprofits throughout the country every year. For information, visit http://www.501c3.org.

About Aplos Software
Founded in 2009, Aplos Software develops simple nonprofit software and has helped thousands of nonprofits manage their finances and tax filings. In addition to their nonprofit accounting software, Aplos Accounting, the company also offers Aplos Oversight, a low-cost enterprise accounting software for a user to easily manage the finances of multiple nonprofits. An authorized IRS e-file provider, Aplos Software offers Aplos e-File to help nonprofits to prepare their IRS Form 990-N and IRS Form 990-EZ. For more information, visit http://www.aplossoftware.com or call Aplos Software at (888) 274-1316.

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Christy Qualle
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