According to the IRS, there are 28 different types of organizations that may qualify and apply for tax-exempt status. The exemptions are meant to promote the prosperity of, and in many cases, exercise separation between government bodies and those who deserve an exemption.
Some of these organizations include:
Title holding corporation for exempt organizations - 501(c)(2)
Religious, educational, charitable, scientific, literary, testing for public safety, to foster national or international amateur sports competitions, or prevention of cruelty to children and animals organizations - 501(c)(3)
Labor, agricultural, and horticultural organizations - 501(c)(5)
Social and recreational clubs - 501(c)(7)
Teachers' retirement fund associations - 501(c)(11)
Cemetery companies - 501(c)(13)
Employee funded pension trust - 501(c)(18)
Veterans organizations - 501(c)(23)
There are very exact rules that must be followed as to what income is tax-exempt or not and failure to follow these rules will have harsh consequences. If you need assistance with either establishing tax-exempt status for your organization or help in complying with the requirements to maintain your status, please allow Mr. Miller to be of service.
Maintaining Tax Exemption
If your nonprofit organization has been notified that an IRS audit is scheduled, it is important to have the assistance of an attorney. Your rights will need to be protected and if the circumstances warrant it, you may need a strong criminal tax defense. The future of your tax-exempt organization may be at risk.
The application process can be very arduous, and the time it takes to get approval for tax-exempt status can be prolonged without a skilled Palm Beach County tax lawyer. Once approval is granted, your status must be maintained. After 30+ years of practicing tax law, Mr. Miller has the experience necessary to assist you in applying for tax exemption for your organization and advising you in order to legally maintain this status.
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