The pros of being proactive with the IRS
Abstract: As long as an IRS examiner isn’t knocking at the door asking specific questions, many nonprofit leaders don’t volunteer information. In some cases, however, it could be to their advantage to do just that. If, for example, a mistake is uncovered in a filing, taking a proactive stance with the IRS can help minimize potential hassles and penalties. It’s important to get professional advice, learn the facts, and keep a sense of perspective. The IRS is likely to be more amenable to finding a solution for nonprofits that approach it voluntarily.