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IRS revokes nonprofit status on historic Massachusetts museum

Massachusetts residents may be interested in a case involving the revocation of an organization's nonprofit status. The Marine Museum, which was established back in 1968, has lost its nonprofit status with the IRS for not complying with federal regulations pertaining to filing. The museum initially exhibited items that had been donated to it, including models from the original U.S.S. Titanic 1953 film and replicas of the Fall River Line steamers.

According to an Internet database that tracks nonprofits, the exempt status of the organization was automatically revoked by the IRS for failure to file a Form 990. The organization reportedly did not file the form for three consecutive years. The IRS website also claims the private nonprofit museum had its tax status revoked on Feb. 15., the revocation having been posted on Oct. 7 of this year. The change will have significant effects on the museum's payment of real estate and federal and state income taxes, as well as tax-deductible donations.

It was also learned that the museum had not filed the required state and city corporation and nonprofit tax forms. The Marine Museum has been located at 70 Water St. since its inception more than 40 years ago. It is housed in a building that is more than a 100 years old.

As the museum's case may make clear, IRS regulations and documents can be confusing not only to individuals, but also to entities such as private nonprofit organizations. Seeking skilled legal consultation may help clarify a nonprofit organization's tax options, ensuring that the IRS doesn't have the right to revoke nonprofit status.

Source: heraldnews.com, "Marine Museum loses nonprofit status for not complying with filing rules," Michael Holtzman, Oct. 26, 2011

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