The hammer has fallen and the IRS has revoked the tax-exempt status of 275,000 charities that didn’t file their tax returns for three consecutive years. A list of these unfortunate organizations are published on the IRS website.
Small groups with annual gross receipts of $50,000 or less will be able to apply for retroactive reinstatement for $100 (discounted fee). The IRS also will reissue the full list of charities eligible to receive deductible contributions. Historically, that list was in Publication 78, which was the size of a small phone book. But in an effort to save money, the Service will no longer print a paper version of it. Instead, donors will have to consult an electronic list on the agency’s website.