Guide to NonProfit Tax Exemption

When you want to start a NonProfit Corporation or form an Unincorporated NonProfit Organization with the I.R.S., the information necessary to assemble your applications prior to filling out the required IRS 1023 Form and necessary schedules can be confusing, if not overwhelming.

The Internal Revenue Service has an important duty in determining the worthiness of applications for Tax Exemption. The Rules for Exemption under 501(c)3 might seem complicated, but they are a necessary component to filtering out organizations merely trying to gain a tax advantage versus those who truly intend to perform activities that are of benefit to some specific segment of society or society as a whole.

Whether you'd like to determine if your intentions are eligible for Tax Exemption from the I.R.S. under 501(c)3, or you've made the decision to proceed with a filing for NonProfit Tax Exemption, there is a reference we call The Tax Exempt Bible: I.R.S. Publication 557. This is the beginning study for your 1023 application form- the guidebook to NonProfit Tax Exemption!

The greatest advantage to any 501(c) NonProfit Tax Exempt filing is a solid understanding of I.R.S. Publication 557. This is the beginning of the process of filing a well articulated I.R.S. Form 1023 application.