In PLR 201007073, the IRS retroactively revoked the exempt status of an organization previously recognized as a 501(c)(3) organization because the organization failed to meet the reporting requirements under Internal Revenue Code sections 6001 and 6033. The organization had not filed a Form 990 informational return since 1999, failed to respond to numerous information document requests, and did not maintain an accounting system during the period under IRS examination. For these reasons, the IRS held that the organization could not show it was operated exclusively for an exempt purpose and thereby revoked the organization's exempt status.
See also PLR 201007075.
Posted by Jenny Robertson, Associate Editor, Wealth Strategies Journal.
Leave a comment