Friday, January 03, 2014

IRS Issues New Procedures To Reinstate Lost Tax-Exempt Status

KPMG Tax News Flash reports that yesterday the Internal Revenue Service issued an advance copy of Rev. Proc. 2014-11 which provides procedures for reinstating the tax-exempt status of non-profit organizations that have had their tax-exempt status automatically revoked for failure to file required Annual Returns or notices for three consecutive years. The new Revenue Procedure modifies and supersedes Notice 2011-44.