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Get the free New Form 8940 for Certain Not-for-Profits - Capin Crouse

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Issued: August 24, 2011, Upcoming Events Email Alert: New Form 8940 for Certain Not-for-Profit Exempt Status Determinations The IRS recently released a new one-page form that not-for-profit organizations
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How to fill out new form 8940 for

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How to fill out new form 8940:

01
Start by accessing the official IRS website and downloading form 8940.
02
Gather all the necessary information and documents required to complete the form, such as personal information, employer identification number (EIN), and organization details.
03
Begin by filling out the top section of the form, including the name of the organization and its EIN.
04
Next, provide the organization's address, contact information, and the name and title of the authorized representative.
05
Proceed to Part I of the form, which involves selecting the appropriate box that describes the purpose for requesting tax-exempt status.
06
Depending on the purpose selected in Part I, complete the corresponding section in Part II, providing additional information and supporting documentation as required.
07
If applicable, continue to Part III, where you will need to provide details on any substantial changes to the organization's structure, activities, or governing documents.
08
Next, review Part IV and ensure that all required schedules and attachments, such as financial statements or exemption application narrative, are properly included.
09
Double-check all the information provided for accuracy and completeness.
10
Once complete, sign and date the form, along with the authorized representative's signature, if applicable.
11
Make a copy of the filled-out form and all supporting documents for your records.

Who needs new form 8940:

01
Organizations seeking tax-exempt status under certain sections of the Internal Revenue Code, such as section 501(c)(3) or section 501(c)(4), may need to fill out the new form 8940.
02
Nonprofit organizations, social clubs, civic leagues, or similar organizations interested in applying for tax-exempt status may also be required to fill out this form.
03
Individuals or groups looking to create or restructure an organization and obtain recognition of tax-exempt status from the IRS may need to complete the new form 8940.
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Form 8940 is used to request an exemption from certain excise taxes.
Organizations that seek exemption from excise taxes.
You can fill out form 8940 by providing all required information and following the instructions provided by the IRS.
The purpose of form 8940 is to request an exemption from specific excise taxes.
You must report detailed information about the organization seeking exemption, its activities, and the reason for requesting the exemption.
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