Monthly Archives: January 2013

Lost tax-exempt status? How to get it reinstated

Smaller organizations that lost their exempt status for failure to file the required annual returns for three consecutive years can now retroactively reinstate the tax-exempt status. Over the past few years, the IRS has attempted to inform organizations of their filing responsibilities and the consequence of failing to file. Nonetheless, many organizations have failed to […]

Newly revived “charitable IRA rollovers”: Time is running out for 2012 tax savings

The American Taxpayer Relief Act of 2012 (ATRA) revives for 2012 and 2013 the opportunity to make tax-free IRA distributions (up to $100,000 per year) for charitable purposes. If you’re age 70½ or older, you can make a direct contribution from your IRA to a qualified charitable organization without owing any income tax on the […]