It is unknown if the IRS is currently probing the NRA's tax-exempt status, and the agency does not comment on pending or potential investigations.
However, the removal of the group's non-profit designation could be detrimental, if not outright fatal, to NRA operations. The NRA is able to exist, in large part, because it does not pay taxes on income and because its donors are allowed to remain anonymous.
Even with the tax benefits provided to exempt organizations, the NRA is struggling financially. The group's net assets declined for the third year in a row, according to documents filed with North Carolina regulators, leaving its coffers at their lowest levels since 2012.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Senate Democrats ask the IRS to consider stripping the NRA of its tax-exempt statusThe request came after Democrats released their findings of a months-long investigation into the NRA's dealings with Russian nationals last week.
Read more »
Joe Biden's campaign reveals plan to tackle gun violence that says Democrat 'will defeat the NRA'.JoeBiden's campaign reveals plan to tackle gun violence that says Democrat 'will defeat the NRA'
Read more »
Senate Democrats ask the IRS to consider stripping the NRA of its tax-exempt statusThe request came after Democrats released their findings of a months-long investigation into the NRA's dealings with Russian nationals last week.
Read more »
Popular in Wisconsin: Cheese, the Packers and...Risky BondsA Wisconsin agency has issued billions of dollars in tax-exempt debt across the U.S., and some of that debt is now starting to sour.
Read more »
Joe Biden's campaign reveals plan to tackle gun violence that says Democrat 'will defeat the NRA'.JoeBiden's campaign reveals plan to tackle gun violence that says Democrat 'will defeat the NRA'
Read more »
California will appeal judge's decision to block law requiring Trump's tax returnsCalifornia’s chief elections officer said Tuesday he will appeal a federal judge’s order to block the law that would require President Trump to release his tax returns for access to the state’s primary election ballot.
Read more »