Friday, June 10, 2011

The IRS has published its first Automatic Revocation of Expemption List listing approximately 275,000 nonprofits whose tax-exempt status has been revoked because they failed to file a Form 990, 990-N, 990-EZ, or 990-PF for three consecutive years.

From GuidestarWhat does publication of the list mean to you?
If your organization appears on the list, you must now must file a federal income tax return and pay federal income taxes. If you previously could accept tax-deductible contributions, you no longer can do so.
If your organization is not on the list, technically you don't have to do anything. This a good time, however, to reach out to your donors, funders, and other constituents and assure them that you are in good standing with the IRS. You may also wish to suggest that your supporters consult the list to ensure that the other nonprofits they give to are still exempt.

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