Ronald J. Cappuccio, J.D., LL.M. (Tax)

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IRS makes Non-Profit Initial Determinations Permanent

| Sep 9, 2008 | confront IRS, letter of determination, non-profit

The Internal Revenue Service has an onerous and expensive 2-step process for approval of exempt organizations. Because of the new IRS 990 annual filing requirement for non-profits, the IRS is changing the process. Instead of giving a 5-year preliminary approval requiring a review after 5 years to demonstrate the charity receives public support, the initial letter in now a final “Letter of Determination.” This will eliminate the review but does not make up for the extra work of filing the 990,
see: http://www.TaxEsq.com

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