How to reinstate tax-exempt status if revoked?
4.8k views |
Last modified 7/1/2022 7:06:53 AM EST
If your organization's tax-exempt status gets revoked automatically, you must submit an application with the IRS to reinstate your status.
Here are a few steps on how you can reinstate your tax-exempt status:
- You have to submit a new application with the IRS.
- 501(c)(3) organizations must apply for recognition of tax exemption using Form 1023, while all the other organizations should apply using Form 1024.
- You should mention "automatically revoked" at the top of the form before sending it to the IRS.
- You must file all the income tax returns and pay the required taxes from the date of your revocation to the date your reinstatement is approved.
If you can show a reasonable cause for not filing your 990 return, you can avoid paying the required taxes or filing the income tax returns for the period your tax-exempt status was revoked.