Wednesday, June 15, 2011

Has your favorite charity lost its tax-exempt status?

If your favorite charity lost its tax-exempt status, you can't deduct those charitable contributions on your tax return!.

The Internal Revenue Service announced yesterday that approximately 275,000 organizations have automatically lost their tax-exempt status because they didn't file legally required annual reports for 3 consecutive years. The IRS believes the vast majority of these organizations are defunct, but announced special steps to help any existing organizations to apply for reinstatement. Below is a link to the list broken down by states.

http://www.irs.gov/charities/article/0,,id=240099,00.html

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