I have met various non profits that didn’t know they can lose their tax exempt status. They were great at getting the non profit set up. Non profit owners eager to help others sometimes forget to take care of their self. Tax exempt organizations are required to file an annual return with the IRS. If a non profit fails to file for three consecutive years. The tax exempt status is automatically revoked.
Your non profit will be added to the IRS automatically revoked non profit list. This could surely spell disaster for a non profit. Your company will no longer be able to receive tax deductible contributions. You might have to file an income tax return as a corporation or trust. Donors will not feel secure with giving to an organization that fails to manage itself. The IRS doesn’t have an appeal process for an automatic revocation if it was properly done. The company will have to apply for its tax exempt status again. Keep you tax exempt organization off of the revoked list by staying up to date on filings. Let IATC help you if you are having issues.