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Writer's pictureTrent Foster

Loss of Exempt Status



New IRS procedures address the situation of nonprofit organizations disputing their loss of exempt status. When an organization challenges the judgment, the IRS can continue to treat it as an exempt organization for contributions from individual supporters for amounts up to $1,000 starting on the date the IRS announces the revocation, or removes the organization’s name from the Tax Exempt Organization Search. This status remains until the Tax Court renders a final decision or judgment from the U. S. District Court for the District of Columbia or the U. S. Court of Federal Claims. Click here to go to the IRS Website for more information.

Keep in touch with our blog. We have ideas to share and solutions to management and organizational questions. If you have questions about any other not-for-profit industry topics, contact our not-for-profit team leader at trent@tbfosteraccounting.com.

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