Securing IRS Recognition & Tax Exempt Status
Legal Services for Dallas Nonprofits
When beginning a new nonprofit, there are several steps that you must take in order to reach fully recognized tax exempt status from the IRS. Formation of a nonprofit under the proper clause is the first and most important step.
As previously mentioned, Perliski Law Group provides legal services needed to form nonprofits, specifically:
- 501(c)(3): private charities & public organizations
- 501(c)(4): civic leagues
- 501(c)(5): labor unions
- 501(c)(6): trade associations & professional societies
- 501(c)(7): social clubs
IRS Recognition & Non-Profit Exemptions
Once the organization is formed, the next step will be to file your applications for federal and state tax exemptions. As a nonprofit, IRS recognition and tax exempt status are the most favored aspects of nonprofit corporations.
Exemption from federal and state tax requirements is a status held by a very small, strictly defined sector of enterprise—specifically, nonprofit organizations that have met and fulfilled all requirements for achieving such status.
The principle behind this privilege is that the government has deemed these organizations to operate for the public interest, not the private interest of the owners.
For your FREE consultation from our Dallas tax lawyers near you, contact us. We offer a variety of non-profit legal services. Call 214-865-7542!
Given the sensitivity of tax exempt status, the IRS has a very strict process for recognizing nonprofit formations.
An application for tax exemption status must include the following, along with a fully completed IRS Form 1023:
- The certification of formation
- A copy of the organization bylaws
- Detailed financial statements or, for new formations, proposed budgets extending two fiscal years including estimates for anticipated financial support
- Description of planned activities with explanation of anticipated public benefit
- Information on directors and officers including name, address, and annual compensation
- Statement on claiming status either as a public charity or private organization
- EIN
- Annual accounting period
Related Reading
Having a legal team assist you with your nonprofit's formation and status recognition is important because it will ensure that the process runs smoothly from beginning to end.
By hiring an experienced Dallas nonprofit attorney to help you form your new nonprofit, you can rest assured that the bylaws, article of incorporation and other important documents are drafted properly. This, in turn, will also help you avoid conflict or delays with the IRS.
From beginning to end, our team stands by the mission our clients work to achieve through their nonprofit organizations. We offer our legal services to the protection and aid of churches, religious organizations, public charities, private organizations and other nonprofits throughout Dallas.
To learn more about the application for IRS recognition and tax exempt status, contact Perliski Law Group today and receive a FREE consultation. Call 214-865-7542!
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Share Your Vision with UsWe have over 30 years of experience in nonprofit formation and are here to help you achieve your vision.
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We Offer Flat Fee ServicesOur flat fees ensure that our services remain accessible to churches, charities and other nonprofits.
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We Provide Ongoing SupportOnce your nonprofit filing is complete, our job doesn't end. Our nonprofit formation services include 12 months of support and training for the board of directors to ensure you are fully prepared.
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