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What is the IRS Business Master File, and why is it important?

April 26, 2017Business file IRS master

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What is the IRS Business Master File, and why is it important?

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The IRS Business Master File (BMF) lists all tax-exempt organizations registered with the IRS. The IRS has specified that grantmakers can use BMF data to verify a grantee’s public charity classification under section 509(a) (1), (2) or (3). The IRS BMF is updated monthly, and the most recent IRS BMF date is incorporated into the body of the Charity Check report.