We recently discussed a new bill which would require the IRS to give nonprofit organizations more advanced notice before revoking their tax-exempt status. Sens. Dan Coats and Ben Cardin coordinated the “Notice for Organizations That Include Charities is Essential (NOTICE)…
Two senators are sponsoring legislation which would require the IRS to give nonprofit organizations more advanced notice that they are at risk of losing tax-exempt status. This measure was introduced this past week by Republican Dan Coats and Democrat Ben…
The Internal Revenue Service has issued new guidance (in the form of Revenue Procedure 2014-11) for small nonprofits looking to regain lost tax-exemption. The process outlined in the Rev. Proc. significantly changes the reinstatement process...mostly for the better. Under the…
We have discussed at great length the fact that all tax-exempt organizations are required to file some version of IRS Form 990 each year. As we have also discussed, failure to file a Form 990 for 3 consecutive years results…
About this time every year, the IRS issues a number of Revenue Procedures, which are official, formal pronouncements regarding the manner in which it will handle specific tax situations. Revenue Procedures don't exactly make law (only Congress can do that...theoretically,…
Cincinnati, we’ve got a problem! Lately the Internal Revenue Service Exempt Organizations Division has begun to monkey around with the way it treats organizations applying for tax exempt status, particularly those nonprofits that have been around and operating for a…
As you are likely aware, the IRS finally released its long-delayed Nonfiler Revocation List last week. On it were the names of 275,000 nonprofits that had their 501(c) status revoked (see previous post). There has been some confusion and some mistakes, as would be expected with anything that impacts up to 20% of all tax-exempt organizations, but by and large, it appears the time the IRS took to get it right may have resulted in just that.
So, now what? The IRS has issued guidance for those organizations who lost status in the form of 2 Revenue Procedures, 2 official Notices and 1 announcement. For your reading (and possibly reinstatement) pleasure, here they are (in summary…click on the link for the full text):
Well, it’s official. We’ve known this day was coming since the Pension Protection Act was passed into law in almost 5 years ago. On the afternoon of June 8, 2011, the IRS released the initial list of nonprofits that have automatically lost 501(c) tax exemption due to non-filing of Form 990 for 3 consecutive years, 2007-2009. The numbers, while expected, are still staggering:
275,000 Nonprofits Are No Longer Tax Exempt!
The IRS has finally announced its decision regarding the extension it promised to small charities facing the loss of tax exemption due to not filing Form 990N. Now, small nonprofits have until October 15, 2010 to file Form 990N and…
It's been almost two months since most tax-exempt organizations were required to file their annual IRS Form 990. As we have discussed at great length on these pages, the due date for tax year 2009 was the doomsday date for…
