- Form 1023 or 1024, which can be named Application for Recognition of Exemption. This form is made use of by the IRS to identify no matter if your organization qualifies for tax-exempt status, and you will file one particular or the other according to no matter if your organization is in search of exemption. Tax-exempt status is not absolutely free! The law calls for the payment of a user fee to approach the application for tax-exempt status. The quantity of your user fee is determined by the kind of application submitted plus the anticipated amount of your organization’s revenues, nevertheless it ordinarily ranges from $300 to $900 beneath 501(c)(3) or 501(a) of your Internal Income Code.
- Form 8718, which can be named User for Exempt Organization Determination Letter Request. This can be a form made use of to request a distinct letter from the IRS that your organization has been offered tax-exempt status.
- Form 990, which can be the annual information and facts return. Any tax-exempt organization with greater than $25,000 in annual gross revenues will need to file a Form 990 together with the IRS.
- Form SS-4, which can be named Application for Employer Identification Number. Just about every exempt organization will need to have an employee identification number (EIN), no matter if or not it has any personnel, and this can be the form you use to acquire that number.
These forms are out there on line at www.irs.gov, beneath the Forms and Publications link. Just after you obtain the link, all the forms are listed in numerical order. Some forms is usually filed on line, but other individuals really need to be printed. In any occasion, you cannot save your typed forms unless you may have particular computer software which include a version of Adobe Acrobat, which enables you to save alterations to PDF forms.
For those who do not have on line access (or you are a traditionalist who likes tricky copies), you could acquire any of those forms by contacting your neighborhood IRS workplace. To discover exactly where your neighborhood IRS workplace is positioned, call this national IRS tollfree
number: 800-829-1040.
number: 800-829-1040.
Your tax dollars at operate: Government publications
The Department of Treasury plus the IRS deliver the public with quite a few absolutely free publications, which you could get on line at www.irs.gov. These publications clarify the approach of applying for tax-exempt status for the organization and are every single assigned a distinct number. IRS Publication 557, titled Tax Exempt Status for Your Organization, is definitely the principal guide. It discusses the guidelines and procedures for organizations that want an exemption from federal earnings tax. This publication delivers common information and facts in regards to the procedures for receiving tax-exempt status and consists of information and facts about annual filing needs and also other matters that may perhaps influence your organization’s taxexempt status. Publication 557 also has information and facts about filing the initial paperwork to qualify your organization as a nonprofit, about solutions for organizing nonprofits, and about ongoing reporting needs for nonprofits. (This publication is usually identified at www.irs.gov/pub/irs-pdf/p557.pdf.) IRS Publication 78, Cumulative List of Organizations, lists a large number of tax-exempt organizations to which contributions are deductible as charitable donations (as defined in section 170 of your Internal Income Code).
The Department of Treasury plus the IRS deliver the public with quite a few absolutely free publications, which you could get on line at www.irs.gov. These publications clarify the approach of applying for tax-exempt status for the organization and are every single assigned a distinct number. IRS Publication 557, titled Tax Exempt Status for Your Organization, is definitely the principal guide. It discusses the guidelines and procedures for organizations that want an exemption from federal earnings tax. This publication delivers common information and facts in regards to the procedures for receiving tax-exempt status and consists of information and facts about annual filing needs and also other matters that may perhaps influence your organization’s taxexempt status. Publication 557 also has information and facts about filing the initial paperwork to qualify your organization as a nonprofit, about solutions for organizing nonprofits, and about ongoing reporting needs for nonprofits. (This publication is usually identified at www.irs.gov/pub/irs-pdf/p557.pdf.) IRS Publication 78, Cumulative List of Organizations, lists a large number of tax-exempt organizations to which contributions are deductible as charitable donations (as defined in section 170 of your Internal Income Code).
Elmer Tamayo is the author of myaccountinginfo.net who took-up his degree of "BS in Accountancy" major in accounting. A Web designer and blogger, His passion is Reading books, searching new tech update on the world wide web. Read More...
