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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.
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 ...
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. It is one of the 29 types of 501(c) nonprofit organizations [1] in the US.
Employment tax: Tax-exempt businesses with employees must withhold Federal Income Tax Withholding (FITW) from employee wages and contribute to Social Security and Medicare taxes (FICA). Non-501(c ...
The Johnson Amendment is a provision in the U.S. tax code, since 1954, that prohibits all 501(c)(3) non-profit organizations from endorsing or opposing political candidates. Section 501(c)(3) organizations are the most common type of nonprofit organization in the United States, ranging from charitable foundations to universities and churches.
Exempt property calculations and provisions are determined on a state-by-state basis. This is important within the bankruptcy process, and may affect an individual's decision to file Chapter 7 or Chapter 13 bankruptcy .
Tax-exempt means not being required to pay taxes on certain types of income. Find out which type of income is considered tax-exempt.
Logo of the United Nations Children's Fund (UNICEF), an organization of the United Nations. A nonprofit organization (NPO), also known as a nonbusiness entity, [1] nonprofit institution, [2], not-for-profit organisation, [3] or simply a nonprofit, [a] is a non-governmental (private) legal entity organized and operated for a collective, public or social benefit, as opposed to an entity that ...