IRS Releases Streamlined Reinstatement Procedures for Auto-Revocations

The exempt organization community received welcome news today from the IRS, signaling what hopefully will be the start to a good year! Revenue Procedure 2014-11 issued on January 2, 2014, outlines four new streamlined procedures for reinstating the tax-exempt status of organizations that have had their status automatically revoked for failure to file IRS Form 990s.    

Background

Charitable Receipting Double Check

As 2013 draws to a close, public charities await year-end contributions, and Packers fans await the potential return of Aaron Rodgers, a charitable receipting “Double Check” is likewise in good order.  Donors and donees must remember that a donation alone is not enough for a donor to claim a federal income tax deduction.  A proper written acknowledgement from the donee to the donor substantiating the gift must be maintained. Earlier this year, a court in Texas denied a donor a charitable deduction because the written acknowledgment provided by the organization did not include the requisite