McGuireWoods Richmond partner Brad Ridlehoover (Tax & Employee Benefits) was quoted in a March 26, 2020 Bloomberg Law article on nonprofits seeking more aid from Congress and the U.S. Department of the Treasury during the COVID-19 crisis.
In the article, Ridlehoover discussed the possible announcement of the IRS providing expedited review of Form 1023 applications from charities. The agency already has a process in place for organizations to request expedited review, and its website says applications can be processed more quickly to help organizations provide disaster relief to victims of emergencies.
“I think we’d want to hear that the IRS – understanding limited staffing and capacity with all kinds of issues – will try to prioritize those applications under their expedited review process,” said Ridlehoover.