The IRS apologized Friday for what it acknowledged was “inappropriate” targeting of conservative political groups in the process for applying for tax-exempt status. Details of the scandal emerged from excerpts of an investigative report...
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Is Your Annual Return Due Soon?
Each year most nonprofits are required to file an annual return with the IRS called a Form 990. The Form 990 is due on the 15th day of the 5th month after the end of the organization’s taxable year. This means that if your organization follows the calendar year, your Form 990 would be due on May 15th of each year.
Tax exemption under Internal Revenue Code section 501(c)(3) provides a number of benefits: Exemption from Federal income tax; Tax-deductible contributions; Possible exemption from state income, sales, and employment taxes; Reduced postal rates; Exemption from Federal unemployment tax; and Tax-exempt financing.
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How Do I Start a Church in Texas?
Creating a church is similar to creating a nonprofit organization. You will want to file your certificate of formation with the Texas Secretary of State and then you file a Form 1023 with the IRS to be recognized as a tax-exempt organization.
The start of a new year is a good time to make sure your nonprofit is in legal compliance — including updating government agencies of certain changes to your organization. Changes like a new address, bylaws revisions, or a modification to the...
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What is a donor acknowledgment letter? A donor acknowledgement letter is more than just a “thank you” letter. Nonprofits have certain requirements to follow — including providing donors with a donation “receipt” —...
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Mollie Cullinane is a 2012 & 2013 Super Lawyers Rising Star - Nonprofit Law (Thomson Reuters)