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Form990EXTENDED TO MAY 16, 2016Return of Organization Exempt From Income Tax OMB No. 15450047 Do not enter social security numbers on this form as it may be made public. Open to Public Inspection2014Under

How to fill out 20 - exempt organizations

How to fill out 20 - exempt organizations

1. Obtain Form 1023: Start by obtaining Form 1023, which is the Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code. This form can be downloaded from the IRS website or requested by mail.
2. Gather necessary information: Collect all the required information needed to complete the form. This may include details about the organization's purpose, activities, finances, and governing structure.
3. Fill out the form: Carefully complete each section of the Form 1023. Provide accurate and detailed information about the organization to ensure a successful application.
4. Attach supporting documents: Include any necessary supporting documents as specified in the form instructions. This may include financial statements, articles of incorporation, bylaws, and any relevant schedules.
5. Review and double-check: Before submitting the application, review all the information provided, ensuring its accuracy and completeness. Double-check for any errors or missing information.
6. Pay the filing fee: Determine the appropriate filing fee and submit it along with the application. The fee may vary depending on the organization's financial size.
7. Submit the application: Once the form is completed and supporting documents are attached, submit the application to the appropriate IRS address as mentioned in the form instructions.
8. Wait for determination: After submitting the application, the organization must wait for the IRS to review and process it. This may take several months. It is advisable to keep a copy of the application and any communication with the IRS for reference.
9. Follow up if necessary: If there are any questions or additional information requested by the IRS during the review process, promptly respond and provide the required details.
10. Receive exemption status: If the application is approved, the organization will receive a determination letter from the IRS granting its tax-exempt status under Section 501(c)(3). This letter is essential for obtaining various tax benefits and solicitations.

Who needs 20 - exempt organizations?

1. Non-profit organizations and charitable entities need to obtain a 20-exempt status. This includes:
2. - Charities engaged in religious, educational, scientific, literary, or other charitable activities
3. - Foundations that provide grants or scholarships
4. - Advocacy organizations working for a social cause
5. - Arts and cultural organizations
6. - Health and medical organizations
7. The 20-exempt status enables these organizations to be exempt from federal income tax, to receive tax-deductible contributions, and ensures their eligibility for various government and private grants.

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What is 20 - exempt organizations?

20 - exempt organizations refer to tax-exempt organizations that are not required to pay federal income tax.

Who is required to file 20 - exempt organizations?

Certain tax-exempt organizations are required to file 20 - exempt organizations, including 501(c)(3) organizations.

How to fill out 20 - exempt organizations?

To fill out 20 - exempt organizations, organizations need to provide information about their finances, activities, and compliance with tax laws.

What is the purpose of 20 - exempt organizations?

The purpose of 20 - exempt organizations is to ensure that tax-exempt organizations are operating in compliance with federal tax laws.

What information must be reported on 20 - exempt organizations?

Information such as financial statements, activities, governance structure, and executive compensation must be reported on 20 - exempt organizations.