A nonprofit’s tax exemption can be automatically revoked by the IRS if the organization fails to make its annual tax filings. But all is not lost - the organization can regain its tax-exempt status by applying for reinstatement.
Read MoreMany nonprofit organizations may mistakenly assume that a tax-exempt status granted by the IRS lasts forever. However, if the organization fails to make required filings, the IRS can revoke the tax exemption.
Read MoreAs the end of the year approaches, both businesses and individuals often turn their eyes to charitable giving as part of their business, estate, or financial plans. In fact, approximately 30% of charitable gifts are made in December.
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