Currently the only way to obtain recognition of 501(c)(3) status is to apply for tax-exemption using IRS Form 1023. The key word is “currently.” A new streamlined application was drafted by the IRS and is being considered for use by small organizations. It was submitted to the Office of Management and Budget for review under […]
Entries Tagged as 'private inuremenet'
Streamlined Exemption Application – Being Considered
April 18th, 2014 · Comments Off on Streamlined Exemption Application – Being Considered · private inuremenet, tax exemption
When Providing Consulting Services Ruins 501(c)(3) Exemption
July 6th, 2012 · Comments Off on When Providing Consulting Services Ruins 501(c)(3) Exemption · Consulting services, Denial of Exemption, private inuremenet
It is common for a new nonprofit to draw on the experience of its founders. Is there any reason that a nonprofit can not provide consulting services? If the new nonprofit seeks to obtain tax-exempt status under 501(c)(3) there are a number of pot-holes to avoid, based on a recent ruling by the Sixth Circuit […]