Non-Profit »
There are over 1 million non-profit or tax-exempt organizations in the United States operating for religious, charitable, educational and other purposes. There are a number of different types of companies and trusts that operate under section 501 and are exempt for federal taxation. While non-profit organizations shares many of the same challenges as for-profit companies, they face a vast number of regulatory and operational concerns to maintain tax-exempt status. This center provides information about the various issues and tax consideration that non-profit organizations must address.
Understand the Tax Consequences of Nonprofit/For-Profit Promotions
Overview In difficult economic times, tax-exempt organizations are on the look-out for new revenue sources, and they frequently attract the attention of for-profit businesses that will benefit from paying them to assist in the
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Unrelated Business Income Tax for Nonprofits: The Basics
Overview A tax-exempt organization is generally exempt from federal corporate income tax on income derived from activities that are substantially related to the organization’s tax-exempt purposes. However, a tax-exempt organization may be subject to
Read More »Tax-Exempt Organizations
Top Takeaways 1. Nonprofits serve a variety of purposes There are many types of organizations that qualify for exemption from federal income tax. To be considered tax-exempt pursuant to section 501(c)(3) of the Internal
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Tax Court Finds Zero Value in Conservation Easement
A historical preservation easement donation made by a New York condominium building in Tribeca’s North Historic District was held to have zero value by the U.S. Tax Court. In 2003, the Cobblestone Loft Condominium
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Complaint Filed With IRS against Catholic Diocese of Peoria
A complaint was filed against the Catholic Diocese of Peoria following a homily given April 14, 2012 at the St. Mary’s Cathedral. The Americans United for Separation of Church and State sent a request
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Filing Deadline Extended for Tax-Exempt Organizations
Pursuant to its Notice 2012-4, the IRS has extended the filing deadline for many tax-exempt organizations until March 30, 2012. That Notice notifies tax-exempt organizations that the IRS is modernizing its eFile system and
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