Tax Law

If you are the executive director or chief financial officer of a nonprofit organization, paying close attention to compliance with applicable tax laws is a big task. Some common nonprofit tax...

For an entity to receive a tax-exempt status by the Internal Revenue Service (IRS), you must comply with IRS regulations. The regulation of taxable and nontaxable entities is a complicated area,...

The laws that affect social clubs depend on how the club is organized. A very informal, unincorporated social club has no particular laws that apply to it specifically. Much more highly organized...

An IRS 501(c)(3) organization (often mistaken as "401(c)(3)") is a corporation or a Limited Liability Company (LLC) that exists for religious, charitable, scientific, literary or educational...

The Internal Revenue Service exempts certain kinds of organizations from income taxes, but it imposes specific requirements to maintain this preferential treatment. The 501(c)(3) status is the...

Alumni groups and fraternal societies are two examples of social clubs that can receive special tax treatment by the IRS. If these organizations are incorporated under the laws of a state and meet...

Title 26, Section 501(c) of the United States Internal Revenue Code (26 U.S.C. § 501(c)) allows certain types of organizations to be exempt from some federal taxes. Obtaining 501c status is a...

There are innumerable organizations that have been granted tax-exempt status under chapter 501(c)(3) of the United States tax code. Here's a brief rundown of the different flavors of these groups.

Section 501(c) of the Internal Revenue Code provides full tax-exempt status to certain qualifying religious, educational and charitable organizations, as well as to those who conduct such other...

You cannot deduct political contributions for federal elections, and most state revenue agencies do not allow deductions for state or federal political contributions. You also cannot deduct...