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Independent Formation – ISTO manages the self-incorporation of member alliances and oversees the submission and filing of IRS Form 1024 for member alliances to apply for not-for-profit status. ISTO is knowledgeable of all legal, tax and audit requirements for 501(c)(6) entities and ensures legal compliance for new not-for-profit organizations.
As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ - see below for explanations of each) used for such returns.
Form 1023-EZ is a streamlined version of Form 1023; it was introduced in 2014 [9] [10] because the original Form 1023 can take over nine hours to complete, and many organizations were waiting over a year for review. About 52% of all organizations filed Form 1023-EZ, with an average turnaround time of 9 days.
The Internal Revenue Service has announced that IRS Free File will begin accepting individual tax returns as of Jan. 10, 2025, for the 2024 tax season.
As of January 2018, the application for recognition of exemption as a 501(c)(4) organization is a new form, Form 1024-A, rather than Form 1024. [ 66 ] [ 67 ] Between 2010 and 2017, the number of 501(c)(4) organizations dropped from almost 140,000 to fewer than 82,000. [ 18 ]
Once the form is completed, return it to your local Social Security office by mail or in person. If you want to make any changes in the future, you’ll need to fill out a new Form W-4V.
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