Sometimes I like to blog about the odd things that happen in my dealings with the IRS. Here’s the latest oddity that has me shaking my head. Setup A 501(c)(7) not-for-profit came to me awhile back to say that they’d been in existence since 2006 and had never filed any paperwork with the IRS … […]
Not-for-profits don’t have to pay income taxes (as long as they filed for tax-exempt status). But that doesn’t mean they’re exempt from all taxes, especially at the state level.
A 501(c)(3) organization is one type of tax-exempt organization as outlined in Section 501(c)(3) of the Internal Revenue Code.
Some examples of how breakeven analysis works for service providers and not-for-profits.
The struggles faced in getting a not-for-profit off the ground are similar to those of a small business … with a few key differences.
In June the IRS released a lengthy list of not-for-profits that lost tax-exempt status for not filing a Form 990 for 3 straight years. Luckily, many of those not-for-profits may be able to get their tax-exempt status back by following an IRS procedure. The IRS explains more in this YouTube video.
Earlier this month, the IRS released the names of organizations that have lost tax-exempt status for failing to file a Form 990 with the IRS for 3 straight years. The IRS also released a Revenue Procedure that offers guidance on how these organizations can regain tax-exempt status. This link takes you to a page on […]