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.
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