Charlotte-area charities could lose tax-exempt status (tax return, exemptions, law)
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More than 2,200 Charlotte-area nonprofits are facing the loss of their tax-exempt status under a tax law that will be enforced this year. The IRS ruling affects small nonprofits that haven't filed annual tax returns for three consecutive years. Donors to those charities won't be able to deduct contributions to them.
Charlotte-area charities could lose tax-exempt status (http://www.charlotteobserver.com/2010/08/19/1630896/charities-could-lose-tax-exempt.html - broken link)
This is a good thing. The IRS needs to get on the ball and update their lists and keep charities and nonprofits under control. There is no reason a nonprofit hasn't filed a tax return for 3 consecutive years if it is still active.
My problem is the religious nonprofit organizations that are not required to file any tax returns due to exemptions.
I wish they would also remove tax exempt status from churches. Those are nothing more than money making schemes.
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