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IRS FEDERAL TAX EXEMPTION AUTOMATIC REVOCATION AND REINSTATEMENT

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By Samantha Dudley, CPA, MBA Manager

The Pension Protection Act of 2006 (PPA) required small organizations (those normally with gross receipts of $50,000 or less) to begin filing Form 990-N (e-Postcard) with the IRS. In addition to the filing, the PPA instituted automatic revocation of tax exempt status for organizations that do not file a tax return or notice for a period of three consecutive years. As a result, approximately 450,000 organizations have lost their tax exempt status.

An Auto Revocation List is compiled and published by the IRS. Previously, organizations have not been included on the list published until 6 months subsequent to revocation of their tax exempt status. However, beginning in March 2013, organizations will be included in the list within one month of the date of revocation.

The Exempt Organizations Select Check has been developed in order to allow users to determine the eligibility of organizations to receive tax-deductible charitable contributions for deductibility purposes, verify if tax-exempt status has been revoked, or verify if the Form 990-N has been filed. The Exempt Organizations Select Check is located at http://www.irs.gov/Charities-&-Non-Profits/Exempt-Organizations-Select-Check.

An organization seeking to be reinstated must file an application for exemption and pay the related fees as noted at http://www.irs.gov/Charities-&-Non-Profits/Reinstatement-of-Tax-Exempt-Status-after-Automatic-Revocation.

 

If you have any questions regarding the article above or any other issue affecting your not-for-profit organization please contact your Blue & Co. advisor or e-mail us at blue@blueandco.com or call us at 800-717-BLUE

 

Please visit our website at http://www.blueandco.com for more information regarding the services we provide.

CIRCULAR 230 DISCLOSURE: To ensure compliance with recently-enacted U.S. Treasury Department Regulations, we are now required to advise you that, unless otherwise expressly indicated, any federal tax advice contained in this communication, including any attachments, is not intended or written by us to be used, and cannot be used, by anyone for the purpose of avoiding federal tax penalties that may be imposed by the federal government or for promoting, marketing or recommending to another party any tax-related matters addressed herein.


 

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