What does it mean to be tax-exempt? Tax-exempt means not being required to pay taxes on certain types of income. Find out what type of income is included.

Explore how nonprofit organizations gain federal tax-exempt status under IRS 501(c) and discover the conditions they must ...

While tax season is over for many taxpayers (except those of us still on extension), tax-exempt organizations still have to file. The filing deadline for many tax-exempt organizations is May 15, 2024.

What Is Form 990: Return of Organization Exempt From Income Tax? Even organizations exempt from paying federal income tax must report their activities annually to the Internal Revenue Service (IRS).

Pt. I. Introduction to the law of tax-exempt organizations. Philosophy underlying and rationales for tax-exempt organizations -- Overview of nonprofit sector and tax-exempt organizations -- Sources, ...

The due date for many tax-exempt and charitable organizations is the 15th day of the 5th month after the end of the accounting year. For an organization with a December 31 year-end, that’s May 15.

To be eligible for the employee retention credit (ERC), a tax-exempt organization must apply a reasonable, good-faith interpretation of the controlled-group rules under Sec. 52, and that ...

Beginning January 1, 2024, many types of legal entities must report information regarding their “beneficial owners” and certain other information (collectively, “BOI”) to the Financial Crimes ...

In Letter Ruling 202428008, the IRS denied tax-exempt status for an organization formed to facilitate arrangements by which student-athletes are compensated for their name, image, and likeness (NIL), ...