Life Cycle of a Private Foundation - Potential Examination Consequences |
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An examination can result in the following actions:
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No change to the organization's exempt status or tax liability,
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No change to the organization's status or liability, with an advisory and later IRS follow-up to see if advice has been followed,
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Imposition of tax (unrelated business income, employment, or excise) and/or penalties, and/or
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Revocation of the IRS's determination that the organization is tax-exempt.
Return to Life Cycle of a Private Foundation
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Page Last Reviewed or Updated: December 09, 2008