Non-Profit/ Tax Exempt

Non-Profit/ Tax Exempt Issues and Planning

Not-For-Profit Organizations – NPO – Need Help!

Proper tax and legal organization helps prevent the failure of Non-Profits. The not-for-profit field has proven to be fertile ground for audits and attacks by State and Federal government agencies. STOP! Don’t be the next victim!


Tax Issues

Forming a Non-Profit Organization

If you are forming a Non Profit Organization, you should know filing as a Non-Profit corporation under state law does not give you State or IRS tax-exempt status. As an exempt organization, the Certificate (or Articles) of Incorporation must meet the detailed requirements of the IRS Regulations. Proper Bylaws and Resolutions must be drafted demonstrating the charitable purpose. Finally, the preparation of the appropriate documents and forms must be submitted to the IRS. This process can easily take up to one year. You need an experienced nonprofit lawyer to help.


IRS Issues Instructions for New Form 990

The IRS has released the revised instructions that tax-exempt organizations will need to fill out the redesigned Form 990. It is no longer enough to obtain tax-exempt status. You must work to maintain recognition as a Non Profit Organization. As a nonprofit tax attorneys, our firm cn help with these crucial IRS filings. Most tax-exempt organizations, other than churches, must file a yearly return or notice with the IRS. If an organization does not file as required for three consecutive years, the law provides that it automatically loses its tax-exempt status. Loss of exempt status means an organization must file income tax returns and pay income tax, and its contributors will not be able to deduct their donations. If you have not filed call us immediately at 856 665-2121


IRS Revokes Tax Exempt Status

The IRS removed the tax-exempt status of 275,000 non-profit organizations because they did not file tax reports with the IRS. Organizations can refile and receive retroactive reinstatement if they act quickly, Call Ron Cappuccio at (856) 665-2121 right away!


Important Facts about Tax Exempt Organizations

Every year, millions of taxpayers donate money to charitable organizations. Here are things you should know about the tax treatment of tax-exempt organizations.

  1. Tax returns are made available to public.
  2. Donor lists generally are not public information.
  3. How to find tax-exempt organizations. Click Here
  4. Which organizations may accept charitable contributions.
  5. Requirement for organizations not able to accept deductible contributions.

For more information, see our Non-Profit/ Tax Exempt information website (click here).