IRS Revokes Non-Profit Status of Hundreds of Austin Organizations
More than 1,200 Austin organizations have had their non-profit status revoked by the Internal Revenue Service because they failed to file tax returns for three consecutive years. The IRS revoked the status for more than 275,000 organizations nationwide.
The Austin list, which you can view here, includes entities ranging from sororities to trade associations to sports groups to religious organizations. Many may have forgotten to file paperwork, but the IRS believes most of the organizations are simply defunct, the New York Times reports.
Non-profit corporations are those in which no profits are distributed to members, directors, or officers. Non-profits are only exempt from paying taxes if they meet certain requirements. In the interests of full disclosure, KUT is tax exempt as a 501(c)3 non-profit public radio station.