IRS: Many small nonprofits may lose tax-exempt status

The Internal Revenue Service is worried that many small nonprofits, such as volunteer fire departments, cemetery associations and 4-H Clubs, may lose their tax-exempt status despite an extension of a filing deadline.

Earlier this year, the IRS began warning charitable organizations who have enjoyed tax-exempt status that they could lose it because of a tax law change in 2006 requires even small nonprofits now to file certain forms.