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IRS Revocation List Coming Soon

Published Friday, February 25, 2011 at 10:02 AM

The IRS has announced that they upcoming nonfiler tax-exempt status revocation list is coming soon. This list will include all charities that will be losing their tax-exempt status as a result of not filing a tax return for three consecutive years. The IRS didn't say when this list will be coming, only that after the initial list is published that they will continue publishing new revocations every month thereafter. We'll post more news once the list is up.

Why is this important?

If you are issuing grants to organizations that are on the revocation list, you could end up with a tax liability for granting to a non tax exempt organization.

What should I do?

Sign up today for Grantr and set up a Watchlist. If any of the organizations that you grant to on a regular basis have their status revoked, you'll get an email from Grantr letting you know. You can also see your notifications on Grantr.com and the organization will appear with big red question mark next to it the next time you look at your Watchlist.