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Local Non-Profits Lose Tax-Exempt Status

Posted By News On @ 6:28 am In Today's Local News | Comments Disabled

The Internal Revenue Service has put out a list of non-profit organizations that are no longer tax exempt.  The list shows almost 3000 organizations in Iowa on the list including ten in Washington.  IRS Spokesman Christopher Miller says when someone loses their tax exempt status, it means contributions are not considered tax deductible and any income received is considered taxable.

An organization loses its tax exempt status when they fail to file the proper paperwork for three consecutive years.  Miller says a company can reapply for that status again.  To see the list of companies in the area, look here [1].


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URL to article: http://kciiradio.com/2011/06/local-non-profits-lose-tax-exempt-status/

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[1] here: http://www.kciiradio.com/wp-content/uploads/2011/06/converted.pdf

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