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.
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 InternalRead More »
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 CondominiumRead More »
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 requestRead More »
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 andRead More »