Thursday, February 28, 2013

IRS to Post Updated List of Organizations That Lost Tax-Exempt Status

Today's Chronicle of Philanthropy is reporting that beginning in March, the Internal Revenue Service plans to start posting a more up-to-date list of organizations that have had their tax-exempt status automatically revoked for not filing proper paperwork.

In the past, the IRS has waited for six months after taking action to release the names of nonprofits that no longer hold charity status because they failed to file legally required documents for three consecutive years.  Going forward, however, the tax agency will release names a month after a group has lost its exemption.

In announcing the change, the IRS said: “Because of this change, the number of organizations added to the list in March 2013 will appear higher than in other months because it includes a catch-up period of about seven months.”

The Chronicle reports tax experts as saying that the change is good for potential donors who need to know if a group remains tax-exempt.  Donors cannot claim a charitable deduction for any gifts made to an organization after the date the IRS announces the revocation of its tax-exempt status.


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