MAGNOLIA

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WOODVILLE REPUBLICAN

WOODVILLE, MS

Circulation

=2550

WEEKLY

07/29/2010

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Thousands Of- State Charities
Ptl1!y Lose Tax-Exempt Status

The Internal Revenue efforts and entail possible avoid loss of their tax ex­ Service has announced tax liability. The list in- emption." The IRS has is­ that a large number of eludes organizations which sued a "One-Time Filing Mississippi charities are at have not filed returns for Relief' which gives chari­ risk of losing their tax-ex­ the past three years. Most ties an extended time to file empt status if they don't are small, community- returns to avoid loss of tax­ file returns by October 15. based organizations, in­ exempt status. After Oct. cluding many service clubs, 15, the IRS will automati­ More than 2,800 Missis­ sippi charities are at risk of foundations, and faith- cally revoke tax-exempt losing their tax-exempt sta­ based ministries. "This is status for the organization, tus if nhey don't file tax re- , potentially the biggest and will pUblish a list ,of turns" by '. ~ undef'it'''' threat to the- existence oflli:ose'organizatfuns in'eatry new program announced small charities that has 2011. Donors who give to recently by the Internal ever occurred," said Bill those organizations will be protected until the list is Revenue Service. According Moak, President of the Bet­ to the IRS, 2,824 charities ter Business Bureau (IUmJ published, meaning that named in a special list Serving Mississippi. The they may still deduct con­ must file returns by Oct. BBB maintains standards tributions made before pub­ 15, or they will automati­ for charitable accountabili­ lication of the list. cally lose their status as ty; and evaluates charities The 97-page list of at­ tax-exempt organizations, a against those standards. risk organizations may be :levelopment which could "It's important that chari­ viewed at http://www.irs. ~ripple future fund raising ties file their returns to gov/pub/irs-tege/ms.pdf.

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