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MAGNOLIA CLIPPING SERVICE

(601) 856-0911 I (205) 758-8610

MISSISSIPPI PRESS
PASCAGOULA, MS

Circulation =21038
DAILY

09/05/2010
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Thousands of state

I

ch.wDities may lose

tax-exempt status

organizations, including many service clubs, foun­ dations and faith-based ministries. "This is potentially the biggest threat to the exist ence of small charities that has ever occurred," said Bill Moak, president of the Better Business Bu reau (BBB) Serving Mis­ sissippi:"'" ­ The BBB maintains standards for charitable accountability and evalu­ Submitted by Better ates charities against Business Bureau those standards. More than 2,800 Missis­ "It's important that sippi charities are at risk charities file their return~ of losing their tax-exempt· to avoid loss of their tax I status if they don't file tax exemption," Moak said. I returns by Oct. 15 under a The IRS has issued a "One-Time Fil­ new pro­ "This is potentially ing Relief," gram an­ nounced the biggest threat which gives ' recently charities an to the existence of tended time e~ by the t~ small charities that file returns to Internal Revenue avoid loss of has ever Service tax-exempt st. occurred." (IRS). tus. After Oct. - Bill Moak, president 15, the IRS wi Accor ofthe Better Business automatically ding to Bureau Serving revoke tax­ the IRS, Mississippi exempt statu 2,824 charities for the organi ation and will publish a named in a special list list of those organization must file returns by Oct. in early 2011. 15 or they will automat­ Donors who give to ically lose their status as tax-exempt organizations, those organizations will be protected until the lis a development which is published, meaning could cripple future fund­ that they may still deduc raising efforts and entail contributions made be­ possible tax liability. fore publication of the The list includes orga­ nizations, which have not list. The list of at-risk orga­ filed returns for the past nizations may be viewed three years. Most are at www.irs.gov/pubj small, community-based irs-tege/ms.pdf. The IRS has information about this issue on its website at www-irs.gov/charities/ article/ 0"id=22S 70S,00.html.

Most are small, community-based organizations, including many service clubs, foundations and faith-based ministries

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