Tax-Exempt

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If a Not-for-Profit Loses Its Corporate Status, Does It Lose Its Tax-Exempt Status As Well?

By | March 14th, 2018|Categories: Small Businesses Taxes|Tags: , |

If a not-for-profit loses its corporate status at the state level, does this affect its tax-exempt status with the IRS?

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Form 8976 — What is It?

By | December 19th, 2016|Categories: Small Business Tax and Accounting|Tags: , , |

Image courtesy of Pixabay.com New federal guidelines have been implemented for 501(c)(4) not-for-profits. The new guidelines require new 501(c)(4) organizations to file a “Form 8976” with the IRS to notify the IRS that the organization is operating as a 501(c)(4). Some existing organizations may also need to file the form. A Google search of Form [...]

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What Taxes is a Tax-Exempt Organization Responsible For?

By | October 6th, 2016|Categories: Small Business Tax and Accounting|Tags: , , , , |

Tax-exempt organizations are exempted from paying income tax and federal unemployment tax... but they might have other tax liabilities that they’re responsible for.

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Recent Fun I’ve Had with the IRS: Letters Received Out of Order

By | October 4th, 2016|Categories: Editorial Commentary|Tags: , , |

Image courtesy of Pixabay.com Sometimes I like to blog about the odd things that happen in my dealings with the IRS. Here's the latest oddity that has me shaking my head. Setup A 501(c)(7) not-for-profit came to me awhile back to say that they'd been in existence since 2006 and had never filed any [...]

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Iowa Not-for-Profits and Iowa Unemployment Tax

By | August 9th, 2016|Categories: Small Business Tax and Accounting|Tags: , , |

Not-for-profits don’t have to pay income taxes (as long as they filed for tax-exempt status). But that doesn’t mean they’re exempt from all taxes, especially at the state level.