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How to fill out 1024 am

How to fill out 1024 am

1. Step 1: Gather all the necessary information and documents required to fill out Form 1024 AM.
2. Step 2: Start by providing the organization's name, address, and contact information.
3. Step 3: Indicate the type of tax-exempt status the organization is seeking under section 1024 of the Internal Revenue Code.
4. Step 4: Fill in the details about the organization's activities and purpose for seeking tax-exempt status.
5. Step 5: Provide information about the organization's governing body and its structure.
6. Step 6: Complete any additional sections or schedules as required, such as Schedule A for organizations involved in public charity activities.
7. Step 7: Review the completed Form 1024 AM for accuracy and completeness.
8. Step 8: Submit the form to the appropriate IRS office along with any required supporting documents.
9. Step 9: Follow up with the IRS to track the status of the application and respond to any additional requests for information.
10. Step 10: Once approved, maintain proper records and fulfill any ongoing filing requirements to maintain tax-exempt status.

Who needs 1024 am?

1. Nonprofit organizations and certain other entities that wish to seek tax-exempt status under section 1024 of the Internal Revenue Code need to file Form 1024 AM. This includes organizations such as social clubs, business leagues, trade associations, and labor unions that want to be recognized as tax-exempt by the IRS. They need to demonstrate compliance with the appropriate tax laws and meet the criteria specified by the IRS to be eligible for tax-exempt status.

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