IMPACT
06/09/2011 05:18 pm ET Updated Aug 09, 2011

IRS Announces 275,000 Nonprofits Will Lose Exemption Status

The Internal Revenue Service said today that 275,000 nonprofits have lost their tax-exempt status because they did not file legally required documents for three consecutive years. That move trims the number of tax-exempt groups by about 14 percent.

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