Thursday, May 03, 2012

IRS May Have Missed 15,000 Organizations That Lost Their Tax-Exempt Status

IRS May Have Missed 15,000 Organizations That Lost Their Tax-Exempt Status: The Internal Revenue Service identified 279,500 tax-exempt organizations that did not file a return or notice for three consecutive years, but it potentially did not identify more than 15,000 organizations that failed to file for three consecutive years, according to a new government report. Due to a programming error the IRS did not notify them that their tax-exempt status had been automatically revoked.

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