Tag Archives: Tax exempt status

IRS 1023 EZ

On July 1, 2014, the IRS announced its new IRS Form 1023 EZ. This form is designed to ease and expedite the application process for small organizations which project $50,000 or less in income and assets of less than $250,000 during … Continue reading

Posted in Advisory Committee on Tax Exempt and Government Entities (ACT), Exempt organization, IRS, IRS Forms, Nonprofit Organizations, North Carolina Lawyer for Nonprofits, Starting a Nonprofit, Tax, Tax exempt organization | Tagged , , , , , , , , , | Leave a comment

IRS ACT Report

The IRS Advisory Committee on Tax Exempt and Government Entities (“ACT”) issued its eleventh “Report of Recommendations” at a public meeting recently held at the IRS headquarters in Washington, D.C.  The ACT consists of legal practitioners, external stakeholders, and representatives who advise and work with employee retirement plans; tax-exempt organizations; … Continue reading

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IRS – Select Check

Donors and others often want to know whether an organization: is eligible to receive charitable contributions that are tax-deductible by a donor; had their tax exempt status revoked for failing to file their 990 form for three consecutive years;  or  filed their … Continue reading

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Exempt Organizations – What Do You Call Your Organization?

Following my recent AFP webinar “When Raising Money, 10 Legal Things to Avoid” several participants wrote to ask what is the difference among the following:    Nonprofit corporation:  This corporate entity is generally defined by state law.  The definition may characterize a nonprofit corporation as having no … Continue reading

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IRS and States- Registered agents, revocations, and responsibility

In the wake of the IRS’ initial announcement that more than 275,000 nonprofits had their exempt status revoked, the IRS noted new revocations will published monthly.  These revocations occur as a matter of law because a nonprofit didn’t file their  IRS 990 forms for three consecutive years and are not a discretionary act by … Continue reading

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IRS – 275,000 Revoked Nonprofits and Guidelines to Reinstatement

The IRS announced that approximately 275,000 nonprofits nationwide had their tax exempt status revoked because they failed to file their 990 form for three consecutive years.  In North Carolina there are about 6, 300 nonprofits with their tax exempt status now revoked.   Many of these organizations are likely defunct or … Continue reading

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