Review of nonprofit filings increased 360% from FY ’04 to FY ’09. The IRS continues revoking the tax-exempt status of thousands of nonprofits.

 

 

 

FY 2012 WORK PLAN

Auto-Revocation for Non-Filers
http://www.irs.gov/pub/irs-tege/fy2012_eo_work_plan_2011_annrpt.pdf 

The Pension Protection Act of 2006 (PPA) required that almost all tax-exempt organizations file an annual return or notice with the IRS every year, and provided that any organization that does not file a required return or notice for three consecutive years automatically loses its tax-exempt status. 

On June 8, 2011, the IRS published the first list of revoked organizations. The list is updated monthly as organizations with different fiscal year-ends fail to file for a third consecutive year.

The IRS redesigned the Form 990 to promote transparency and compliance. The new form, which was effective in tax year 2008, has provided EO with a wealth of information on exempt organizations. EO has used this information to develop risk models to assess the likelihood of noncompliance by organizations, allowing more effective use of examination resources.

 

Ensure your organization does not incur a painful audit –  check your status with us: http://keepmetaxfree.com/are-you-tax-exempt/

 

 

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