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Form 1023 is a United States IRS tax form, also known as the Application for Recognition of Exemption Under 501(c)(3) of the Internal Revenue Code. It is filed by nonprofits to get exemption status. On January 31, 2020, the IRS abandoned the paper format of the form 1023.
[37] [38] A private nonprofit organization, GuideStar, provides information on 501(c)(3) organizations. [39] [40] ProPublica's Nonprofit Explorer provides copies of each organization's Form 990 and, for some organizations, audited financial statements. [41] Open990 is a searchable database of information about organizations over time. [42]
The steps required to become a nonprofit include applying for tax-exempt status. If States do not require the "determination letter" from the IRS to grant non-profit tax exemption to organizations, on a State level, claiming non-profit status without that Federal approval, then they have actually violated Federal United States Nonprofit Laws.
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 ]
The IRS, after reviewing the application to ensure the organization meets the conditions to be recognized as a tax-exempt organization (such as the purpose, limitations on spending, and internal safeguards for a charity), may issue an authorization letter to the nonprofit granting it tax-exempt status for income-tax payment, filing, and ...
According to the IRS, a Group Exemption Letter is a ruling or determination letter that is issued to a central organization recognizing, on a group basis, the exemption from Federal income tax under 26 U.S.C. § 501(c) of subordinate organizations on whose behalf the central organization has applied for recognition of exemption.
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