How to Become Tax Exempt 501(c)(3)

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If you have always wanted to start a Tax Exempt Corporation, then this is your eHow article! This How-To will tell you how to file for Tax Exempt Status, what the difference between Non-Profit and Tax-Exempt is, and where to file.

Things You'll Need

  • A Corporation that you want to be Tax Exempt
  • The ability to read - this one is important
  • Decide if your business is eligible for Tax Exempt Status. The types of organizations that are eligible are religious organizations, some agricultural organizations, labor unions, Fraternities, Sororities, and "Social Groups".

  • Download or Fill Out Online the following forms. You can find them online at IRS.gov, call 1-800-TAX-FORMS, or go into the Social Security office nearest to you!

    Form SS-4: (this is the form you fill out to get your EIN for the government). You will need this to incorporate, so you probably already have this step done!

    Form 1023: This is the the form that you will need to file to get your Tax Exempt Status. Less than 10% get rejected by the government, so those are pretty good odds.

  • Have a CPA or Tax-Specialist look through your forms, and your documenting paperwork. Even though it is easy enough for anyone to fill out, and the Government provides documentation and help with filling out these forms, it will be an expensive mistake if you mess up.

  • Wait. This is the most difficult step of them all, even more difficult than filling out the forms. The IRS provides a tracking tool to find out the status of your forms, but they process them "in the order that they are received" and so it may be a while.

Tips & Warnings

  • PLEASE get a CPA or someone knowledgeable of tax laws to go through your Forms (I can't stress this enough!)
  • Fill out everything completely and accurately.
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