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IRS announces that approximately 275,000 organizations have automatically lost their tax-exempt status because they did not file legally required annual reports for three consecutive years, and unveils a package of guidance (Notice 2011-43; Notice 2011-44; Rev. Proc. 2011-33; Rev. Proc. 2011-36) to help these organizations get back on track. IRS says in a news release (IR-2011-63) the “vast majority” of these organizations likely are defunct, and stresses that it has made extensive efforts to reach out to them prior to revocation. The agency provides special steps for these entities to apply for reinstatement of their exempt status, including retroactive reinstatement.
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