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    #280 BBB 08-26-10 101

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    bmoak
    Thousands of Mississippi charities are at risk of losing their tax-exempt status if they do not file tax returns by October 15th under a new IRS program. Over 2,800 charities in Mississippi must file returns or automatically lose their tax-exempt status, which could severely impact future fundraising efforts and potentially lead to tax liability. The list of at-risk organizations that have not filed returns for the past three years includes many small, community organizations and groups.

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    #280 BBB 08-26-10 101

    Uploaded by

    bmoak
    11 views1 page
    Thousands of Mississippi charities are at risk of losing their tax-exempt status if they do not file tax returns by October 15th under a new IRS program. Over 2,800 charities in Mississippi must file returns or automatically lose their tax-exempt status, which could severely impact future fundraising efforts and potentially lead to tax liability. The list of at-risk organizations that have not filed returns for the past three years includes many small, community organizations and groups.

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    Thousands of Mississippi charities are at risk of losing their tax-exempt status if they do not file tax returns by October 15th under a new IRS program. Over 2,800 charities in Mississippi must file returns or automatically lose their tax-exempt status, which could severely impact future fundraising efforts and potentially lead to tax liability. The list of at-risk organizations that have not filed returns for the past three years includes many small, community organizations and groups.

    Copyright:

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    Download as PDF, TXT or read online from Scribd
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    11 views1 page

    #280 BBB 08-26-10 101

    Uploaded by

    bmoak
    Thousands of Mississippi charities are at risk of losing their tax-exempt status if they do not file tax returns by October 15th under a new IRS program. Over 2,800 charities in Mississippi must file returns or automatically lose their tax-exempt status, which could severely impact future fundraising efforts and potentially lead to tax liability. The list of at-risk organizations that have not filed returns for the past three years includes many small, community organizations and groups.

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    of 1

    MAGNOLIA

    CLIPPING SERVICE
    (601) 856·0911 I (205) 758·8610
    DEMOCRAT

    SENATOBIA, MS

    Circulation =3948

    WEEKLY

    08/03/2010
    1111111111111111111111111111111111111

    Thousands of Mississippi

    c:~!rHies may lose status

    small, community-based exempt status. After Oct.


    BILL MOAK
    organizations, including 15, the IRS will automati­
    More than 2,800 Mis­ many service clubs, foun­ cally revoke tax-exempt
    sissippi charities are at risk dations, and faith-based status for the organiza­
    of losing their tax-exempt ministries. tion, and will publish a list
    status if they don't file tax "This is potentially the of those organizations in
    returns by Oct. 15 under a biggest threat to the exis­ early 2011. Donors who
    new program announced tence of small charities that give to those organizations
    recently by the Internal has ever occurred," said will be protected until the
    Revenue Service (IRS). Bill Moak, President of list is published, meaning
    According to the IRS, the Better Business Bureau that they may still deduct
    2,824 charities named in (BBB) Serving Missis­ contributions made before
    a special list must file re­ sippi. The B~B maintains publication of the list.
    turns by Oct. 15, or they standards for charitable To list of at-risk orga­
    will automatically lose accountability, and evalu­ nizations may be viewed
    their status as tax-exempt ates charities against those at http://www.irs.gov/pub/
    organizations, a develop­ standards. "It's important irs-tege/ms.pdf. The IRS
    ment which could cripple that charities file their re­ has information about this
    future fundraising efforts turns to avoid loss of their issue on its website at http://
    and entail possible tax li­ tax exemption." www.irs.gov/charities/
    ability. The IRS has issued a artic1e/0"id=225705,00.
    The list includes or­ "One-Time Filing Relief' html.
    ganizations which have which gives charities an
    not filed returns for the extended time to file re­ Article taken from ms­
    past three years. Most are turns to avoid loss of tax- digitaldaily.com

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