IRS Updated Procedures for Terrorism Screening of Exemption Applications

Terrorism, in many forms, has tragically continued to plague our global society, and we are tremendously saddened by the horrific events in Sri Lanka this past weekend. Nonprofits, including religious institutions, are often among those victimized and those that take leadership in recovery. But in extremely rare circumstances, nonprofits may be utilized to support terrorist activities. The laws and government agencies have sought to mitigate the risks, including at the point when startup nonprofits are applying for tax-exempt status. Potential OFAC SDN Name Matches The Office of Foreign Assets Control (OFAC) maintains a Specially Designated Nationals (SDN) List, which is a compilation of entities and individuals that have been targeted under one or more of Treasury’s sanctions programs. Those on the list have their assets blocked, and U.S. persons are generally prohibited from dealing with them. The Internal Revenue Manual (IRM) is an official instruction manual…

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