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Important News for Nonprofits! | The Winn Group

Important News for Nonprofits!

The IRS has revoked the tax exempt status of 275,000 nonprofit organizations. No, that’s not a typo: 275,000. So why have all these organizations lost their federal exemption? They failed to file their annual return. You see, even if you are exempt from taxes, you still have to file an annual report.

The Pension Protection Act of 2006 requires the IRS to revoke the exempt status of organizations that have not filed a return for three consecutive years. This June, the first Automatic Revocation of Exemption List was released. You can go here to view the list.

We know this is a pretty big deal, but if your organization is on this list, don’t worry! Give us a call. We have resources to help you get back on track. Even if you’re not on this list, there are vital details required to maintain IRS exemption. Let us help you stay on course!

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Disclosure of Material Connection: The Winn Group has not received any compensation for writing this post. We have no material connection to the brands, products, or services that we have mentioned. We are disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

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