WASHINGTON — The Internal Revenue Service has reinstated the tax-exempt status of LEAP Academy University Charter School, Inc. as of May 17, 2012, but not during the 18 months before that, thereby jeopardizing the tax-exemption of interest earned on its bonds during that time.

The nonprofit organization and public charter school disclosed the IRS actions in a material event notice filed with the Municipal Securities Rulemaking Board’s EMMA system this week.

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