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What is UBIT (Unrelated Business Income Tax)?
A 501(c)(3) nonprofit is not taxed on revenue that comes from an activity that is substantially related to the organization's tax-exempt purpose (charitable, educational, religious, scientific, or ...
What are the benefits of having 501(c)(3) tax-exempt status?
Many people mistakenly believe that all nonprofits automatically have IRS 501(c) tax-exempt status or state tax exemption. So, first, is important to note the distinction between "nonprofit" and ...
Do Nonprofits File Tax Returns? What is a 990?
Do nonprofits file tax returns? Most tax-exempt organizations are required to file annual informational returns with the IRS. Even though most tax-exempt nonprofit organizations do not pay federal ...
You’ve Automatically Lost 501(c)(3) Tax-Exempt Status – Now What?
Since 2011, the IRS has automatically revoked the tax exempt status of hundreds of thousands of nonprofit nonprofit organizations because they failed to file IRS Form 990s for three consecutive years. ...
Help with IRS Form 990
While tax-exempt nonprofit organizations do not pay federal taxes (that is what “tax-exempt” means), most do have to file an annual informational return with the IRS called the Form 990. The IRS ...
Does a Nonprofit Need Tax Exempt Status?
A common misconception is that all nonprofit organizations are automatically tax-exempt. This article outlines nonprofit and tax-exempt status and whether both are needed. We have outlined in other ...