The Northwest Herald reports in an article in today's paper that more than 200 non-profit organizations in McHenry County have lost their tax-exempt status at IRS. Why? They didn't file returns for three years.
Probably, a lot of them are out of business. But who really knows? Should anyone care?
You bet. Because those tax-exempt, non-profit organizations are supposed to follow specific rules for final distribution of remaining assets, when they go out of business. And a donor will no longer get a tax-deduction for any donation made.
The print edition of the Northwest Herald directs readers to http://www.biz-journal.com/ for a link to the list of losers. But, when you get there, all you see is the same article that was printed in the Northwest Herald. What can you do next? The only link goes to www.irs.gov
If you get there before they change it, you'll see "Tax Exemptions Revoked" Click on that link for a June 9th article. Scroll down and click on the "list of organizations" link at the beginning of the seventh paragraph..
While the IRS list is searchable, it cannot be sorted. Nor is the County shown. So it's basically worthless for research about the numbers of tax-exempt organizations in county or city.
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