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A 501(c) organization is a nonprofit organization in the federal law of the United States according to Internal Revenue Code (26 U.S.C. § 501(c)). Such organizations are exempt from some federal income taxes. Sections 503 through 505 set out the requirements for obtaining such exemptions.
The National Taxonomy of Exempt Entities (NTEE) is a used by the Internal Revenue Service (IRS) and NCCS to classify U.S. tax-exempt organizations.A specialist from the IRS assigns an NTEE code to each organization exempt under I.R.C. § 501(a) as part of the process of closing a case when the organization is recognized as tax-exempt.
A 501(c)(3) organization is a United States corporation, trust, unincorporated association or other type of organization exempt from federal income tax under section 501(c)(3) of Title 26 of the United States Code.
Organizations created to prevent cruelty to children or animals; However, the IRS allows certain groups to be automatically exempt from filing Form 1023, yet still eligible to be classified as a 501(c)(3) organization: Churches, their integrated auxiliaries, and conventions or associations of churches [3]
An organization must meet certain requirements set forth in the code. Some organizations must also file a request with the Internal Revenue Service to gain status as a tax-exempt non-profit charitable organization under section 501(c)(3) of the tax code. A non-exhaustive list of organizations that may meet the Federal requirements are as ...
In an 8-1 ruling, the court found the school did not meet the tax-exemption requirements placed on 501(c)(3) organizations, and could not due to their discriminatory policies.
These regulations are used not only to determine if the organization is exempt from tax under the organization's activities as a non-profit organization. If the organization purpose is one of those described in § 501(c)(3) of the Internal Revenue Code , [ 3 ] it may apply for a ruling that donations to it are tax deductible to the persons or ...
Form 990 is required to be filed by most tax-exempt organizations under section 501(a). This includes organizations described by any of the subsections of Internal Revenue Code Section 501(c), 501(d) apostolic organizations, 501(e) cooperative hospital service organization, 501(f) cooperative service organizations of schools, 501(j) amateur ...