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IRS audit issues for exempt organizations.

Publication: The Tax Adviser
Publication Date: 01-OCT-04
Format: Online - approximately 515 words
Delivery: Immediate Online Access

Article Excerpt
The primary objective of an IRS audit of an exempt organization is to determine whether the organization is organized and operated in accordance with its exempt function.

Maintaining Charitable Purpose

An entity's organizational articles or governing documents must state its charitable purpose; a deficiency cannot be cured by the entity's activities. Also, the entity must operate in accordance with its exempt purpose. It must comply with reporting and disclosure requirements, including filing annual information returns and...

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