A mere five and a half years after the Taxpayer Bill of Rights 2 became law, the Treasury finalized the intermediate sanctions Regulations (TD 8978, 1/23/02). For those exempt organizations (EOs) that were delaying compliance until the Treasury finally committed to final Regulations, the time has come to make compliance with this ground-breaking law a top priority. While the most recent round of changes to the Regulations may be less than climactic, those EOs that wish to avoid intermediate sanctions must now understand them and be prepared to implement them. 

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