Monday, July 11, 2011

IRS change creates difficult twist for small nonprofits

IRS change creates difficult twist for small nonprofits: "In Idaho, 1,407 nonprofit organizations lost their tax-exempt status in the past year because they haven't filed the required annual paperwork with the Internal Revenue Service for three years.

The list includes dozens of nonprofit organizations throughout the Magic Valley, many of them small entities that run the gamut from an organization tied to police officers to another that aids recovering drug and alcohol addicts. While the number is surprisingly high, a recent change to federal law likely played a big role in many cases."

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