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TAX WATCH
Some Credit Counselors Will Lose Tax Exemption
By Elizabeth Schwinn
The IRS has announced that it will revoke the tax exemptions of 41 nonprofit organizations that counsel people who have amassed big credit-card debts. Together the organizations account for some $410-million of the $1-billion in revenue that credit-counseling institutions take in annually.
The move comes after the IRSconducted an...