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Review the types of organizations and associations that may qualify for exemption under Internal Revenue Code section 501 (c) (4).
Choosing whether a 501(c)(3) or 501(c)(4) nonprofit status is best for your organization requires a thorough understanding of both nonprofit types’ purposes, similarities, advantages...
Depending on its activities, a homeowners' association may qualify for exemption from federal income tax as an organization described in IRC 501(c)(4), IRC 501(c)(7), or IRC 528. Of the three routes to tax-exempt status, IRC 501(c)(4) imposes the strictest standard.
Social welfare organizations are classified as 501(c)(4) organizations because their primary purpose is to provide social benefits to communities rather than charity. In this article, we will define social welfare organizations and list types and examples.
A 501 (c) (4) organization is required to file a Form 1120-POL if it has political organization taxable income under IRC Section 527 (f) (1).
Social welfare organizations are created under Section 501 (c) (4) of the Internal Revenue Code and are often referred to as 501 (c) (4) organizations. Their primary purpose is to in some way promote the common good and general welfare of the community—for example, "by bringing about civic betterments and social improvements."
If an organization is labeled 501(c), it means it is a nonprofit organization concerned with providing a public benefit and is exempt from paying federal income taxes.