The IRS has many rules regarding the operation of 501(c)(3) organizations, as named in the eponymous section 501(c)(3) of the Internal Revenue Code (IRC). A 501(c)(3) officer must draft unique bylaws that ensure that the organization is run according to these laws.What Are the IRS Rules on 501(c)(3) Organizations?
IRS Rules on 501(c)(3) Organizations FAQs
A 501(c)(3) organization is a non-profit organization with tax exempt status that is dedicated to the general well-being of society.
The IRS has many rules regarding the operation of 501(c)(3) organizations, as named in the eponymous section 501(c)(3) of the Internal Revenue Code (IRC).
A 501(c)(3) organization is tax exempt so long as it remains true to its stated mission and remains compliant with the IRS.
501(c)(3) is the internal revenue code (IRC) section for organizations with tax exempt status. 501(c)(3) falls under internal revenue code 501(c).
Forming a 501(c)(3) organization requires filing an application with the IRS, as well as incorporating in your state with the Secretary of State or equivalent office. You will also need to draft legal documents such as a mission statement, articles of incorporation, and bylaws.
True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.
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