Thousands of nonprofits may lose tax-exempt status
Press release from the issuing company
Monday, May 17th, 2010
More than 200,000 small nonprofits across the nation are days away from losing their tax-exempt status because they haven't filed a new form with the Internal Revenue Service.
Many of these groups already operate on razor-thin budgets and some worry an unexpected tax bill could force organizations to close.
"The nonprofits in your backyards, some of them are going to be gone," said Suzanne Coffman, a spokeswoman for GuideStar, which tracks data on nonprofits. (read more at ajc.com)
