Thursday, April 21, 2011

Nonprofit Revocation

The IRS is preparing to issue the list of those nonprofits whose tax-exempt status has been revoked and Guidestar has published a report on what it means for nonprofits, as reported in this news item.

An excerpt.

“As the IRS prepares to publish the first list of nonprofits whose tax-exempt status has been revoked for failure to file an annual return, many nonprofits, funders, and donors are probably wondering: "How will the revocations affect me?" GuideStar gives you the answer in a new report available for free download.

“Written by GuideStar staff, "What Automatic Revocation of Nonprofit Tax Exemptions Means for You: A Review for Nonprofits, Grantmakers, and Donors," concisely but thoroughly:
• outlines the forces driving the revocations;
• analyzes by organization type the nonprofits the IRS has identified as being at risk;
• defines the impact the revocations will have on different audiences; and
• lists resources where readers can get more information.”