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1I1 Return of Organization Exempt From Income Tax MNC M0047 Form Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung, * benefit trust or private foundation) open
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What is 1i1 return of organization?
1i1 return of organization refers to the annual tax return filed by tax-exempt organizations in the United States, specifically those exempt under section 501(c)(3) of the Internal Revenue Code.
Who is required to file 1i1 return of organization?
Certain tax-exempt organizations, such as charities, foundations, and other nonprofits that are recognized under section 501(c)(3) of the Internal Revenue Code, are required to file 1i1 return of organization.
How to fill out 1i1 return of organization?
To fill out the 1i1 return of organization, organizations need to use Form 990, which is available on the official website of the Internal Revenue Service (IRS). The form requires the reporting of financial information, governance details, and other relevant data for the organization.
What is the purpose of 1i1 return of organization?
The purpose of the 1i1 return of organization is to provide transparency and accountability for tax-exempt organizations by reporting their financial activities, governance structure, and other pertinent information to the IRS and the public.
What information must be reported on 1i1 return of organization?
The 1i1 return of organization requires reporting of various information, such as financial statements, revenue sources, expenses, executive compensation, governance structure, program activities, and compliance with tax laws and regulations.
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