Yesterday, the IRS identified 275,000 nonprofits that had their federal tax-exempt status revoked as a result of failing to satisfy their filing requirement for three consecutive years. This is a result of section 6033(j) of which was added to the Internal Revenue Code (“IRC”) as part of the Pension Protection Act of 2006: 6033(j) Loss of […]
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Inactive Organizations & Revocation of State Tax Exemption – California FTB
I recently responded to a comment on a listserv regarding an action by the California Franchise Tax Board (FTB) to revoke a charity's state tax-exempt status for reporting no income on its annual registration renewal for several years running. The charity reported zero income between 2006 and 2009, resulting in the FTB revoking tax-exempt status […]