IRS Recognizes the Issuance of Erroneous Tax-Exempt Status Revocations Due to COVID-Related Computer Issue
By EsqSocial Corporation 02/11/20
Recently, the Internal Revenue Service has acknowledged that a computer program issue caused the erroneous revocation of tax-exemption for thousands of nonprofits across the country. This statement from the IRS followed a letter from the Committee on Ways and Means to Secretary Mnuchin, inquiring why the tax-exemption of nearly 28,000 charities had been revoked just before the most popular time for charitable contributions....
By: Hodgson Russ LLP