A warning from Minnesota's Council of Nonprofits via the Star Tribune.
IRS Doomsday: Small nonprofits at risk for losing tax exempt status
Thousands of nonprofits with revenues under $25,000 are at risk for losing their tax exempt because of a new law going into affect this month. These small organizations are now required to file an annual IRS Form 990-N. Failure to do so by a deadline of May 15 will result in revocation of the organizations tax exempt status.
MCN's media release (MS Word)
Star Tribune story
New York Times story