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June 30, 2011

Setting the Record Straight on Group Exemptions

Despite some claims, IRS revocations aren't in store.




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The IRS Advisory Committee on Tax Exempt and Government Entities (“ACT”) issued a report in June that addresses a number of tax compliance issues, including group exemption rulings.

The report caught the attention of many church leaders, since thousands of churches have obtained recognition of tax-exempt status by being included in the group exemption ruling of a parent denomination. Unfortunately, the report has caused needless concern, in part because of the false claims of some seminar leaders that the IRS is going to “revoke the group exemptions of churches by the end of the year.”

The good news is that the IRS is not going to revoke group exemptions. A feature article in the September-October 2011 edition of Church Law & Tax Report explains the recent ACT report, and sets the record straight.

Related Tags: finance, finances, IRS, Law, money, Richard Hammar, tax

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