1 year, 8 months ago
What is the easiest way to file for the 501c3 status?
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M$1 Answer
The usual disclaimer that you should talk to a lawyer and/or accountant. Preferably one who is knowledgeable about your states corporation formation laws and operating a non-profit.
To get not for profit tax status there are 3 things you need to do.
1. Set up a corporation.
2. Get an EIN number from the IRS
3. File with the IRS for the 501c3 exemption.
Easy is a relative thing. The basic steps are pretty straight forward. The devil is in the details and there are a lot of small hoops to jump through on your way to getting approved.
To get not for profit tax status there are 3 things you need to do.
1. Set up a corporation.
2. Get an EIN number from the IRS
3. File with the IRS for the 501c3 exemption.
Easy is a relative thing. The basic steps are pretty straight forward. The devil is in the details and there are a lot of small hoops to jump through on your way to getting approved.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
This was very helpful, now we have to jump through the hoops!! We are going to try to file online as it appears to save a lot of money. We did go to the IRS office, but didn't get our questions answered, and believe me we couldn't have played dumber than we were or felt. I will check out the website today. Thanks.
It's less expensive to use the IRS website submission form when filling out the application for a 501(c)(3) determination letter. You might try connecting with an existing organization that would welcome your ideas and energy, and who will let you run with it. I have been looking for an abandoned (or nearly so) 501(c)(3) to revive with a new mission, but as yet have not found one. That might be an option - perhaps you have different opportunities in your sphere than I do.
nancy is right that the IRS website is a good resource and you can file the necessary paperwork online. http://www.irs.gov/publications/p557/ch03.html would be a good place to start.
You can also go to your local IRS office and in my experience they are surprisingly helpful. They are government workers so smile, be nice, play a bit dumb and thank them profusely.