The News Desk is a collection of news, notes and breaking items affecting the Fredericksburg community.
IRS revokes U.S. Slavery Museum’s tax-exempt status
RICHMOND – (AP) — The U.S. Slavery Museum has lost its federal tax-exempt status.
The Washington Post reports (http://wapo.st/ztQGlq) the museum was added Wednesday to a list of organizations that have had their federal tax-exempt status revoked by the Internal Revenue Service.
The move means the Fredericksburg museum envisioned by former Gov. L. Douglas Wilder can’t receive tax-deductible charitable contributions.
Nonprofit groups must file a return or notice annually to the IRS. The IRS revokes a nonprofit’s tax-exempt status if it fails to file for three consecutive years. The museum last filed a federal return in 2007.
The IRS says organizations may apply to regain their tax-exempt status.
The museum is in chapter 11 bankruptcy while it reorganizes its $7 million debt.
Earlier this week, the museum filed a plan with federal bankruptcy court in Richmond, to dig itself out of debt.