IRS Revokes Tax-Exempt Status of Four Credit Counseling Agencies

September 26, 2005 IRS Revokes Tax-Exempt Status of Four Credit Counseling Agencies In July 2005, the Internal Revenue Service (IRS) revoked the tax-exempt status of four credit counseling agencies. The IRS is continuing to investigate tax-exempt agencies to determine whether or not they qualify for the status. A Better Way Credit Counseling of Greenacres, Florida, and the National Center for Debt Elimination in North Huntington, Pennsylvania are two of the agencies mentioned on the IRS website which have lost tax exemption status. The review of agencies is taking place because a new bankruptcy law goes into effect . . .