Ok. TP made $500 contribution to local TE who has notified her they lost their status but are trying to get it back and her contribution is now not deductible. Assume they didn't file 990-T. Anyway, we will have to amend 2011. And pay the tax. And if they get it back, we amend it again as if it were never lost? Or if status is reinstated, is it just from that date forward and the contribution deduction is lost forever?
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No announcement yet.
Tax Exempt Org Lost Its Status
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Agree, but...
Retroactive reinstatement is not automatic. It has to be explicitly requested, and the request must be accompanied by a "good cause" explanation.
BMKBurton M. Koss
koss@usakoss.net
____________________________________
The map is not the territory...
and the instruction book is not the process.
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Journal Article
Originally posted by Uncle Sam View PostIf you're an EA, I wrote an article on this very subject that got
published in the March/April edition of the EA Journal.
I read that article just a day or two before this thread appeared. The only reason I felt I could even comment on this issue was because of that article.
BMKBurton M. Koss
koss@usakoss.net
____________________________________
The map is not the territory...
and the instruction book is not the process.
Comment
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