Monsey, NY - July 20, 2011 - Vcorp Services, LLC is pleased to announce its objective to assist nonprofit organizations whose tax exempt status has been revoked to have that status reinstated without delay. The IRS has recently modified the regulations which now impact an estimate of 275,000 entities whose tax exempt status has been revoked. These organizations are now without the benefits of tax-free income and these organizations are also not able to provide deductibility of donations to donors. The inability for donors to receive tax exemptions on their donations could severely hamper the achievement of each organization's personal and unique charitable mission. Vcorp is dedicated to try to help these organizations to reapply for tax exempt status and to remain in compliance going forward.
"Nonprofit organizations are an important part of our society, and it's a terrible shame that so many entities have lost their tax exempt status," said Beena Koff, Tax Exempt Specialist at Vcorp Services. "We look forward to helping them to reinstate their status. As cliché as it may sound, we take great pride in helping an organization to help others. We understand the challenges involved in achieving and maintaining tax exempt status and we are committed to simplifying the process for our clients to the fullest extent possible."
Nonprofit organizations seeking reinstatement of tax exempt status are required to file a new application form. Vcorp can assist with the preparation, submission, and monitoring through out the review process.
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