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Obtaining and Sustaining a Tax-Exempt Status - Webinar

  • ID: 4663976
  • Webinar
  • December 2018
  • Region: Global
  • 90 Minutes
  • Lorman Business Center, Inc.
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Gain a better understanding of the application process and identify key issues when preparing an exemption application.

Many organizations receive recognition of tax exempt status under Code Section 501(c)(3) but often do not understand the ongoing compliance requirements to maintain such status including the ramifications of noncompliance. This topic helps individuals who are assisting organizations apply for tax exempt status under Code Section 501(c)(3) understand the application process and to identify key issues when preparing an exemption application. This material also reviews key issues relating to maintaining tax exempt status such as annual filling requirements as well as areas that can result in audit or even revocation of tax exempt status.

Learning Objectives
  • You will be able to define what a charitable activity is.
  • You will be able to describe key elements of maintaining tax exempt status under Code Section 501(c)(3).
  • You will be able to explain what private inurement and private benefit mean, including the differences.
  • You will be able to recognize situations that involve conflicts of interest.
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Nonprofit to Tax-Exempt
  • State vs. Federal
  • Key Differences
Apply for 501(c)(3) Status
  • What Is Charitable?
  • Keys to Preparing a Successful Application
  • Form 1023-EZ - Qualifying to File
Key Issues to Maintain Tax-Exempt Status
  • Annual Filing Requirements With IRS
  • Private Inurement/Private Benefit
  • Conflicts and Compensation
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Anita Pelletier - Nixon Peabody LLP
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This webinar is designed for accountants, CPAs, executive directors, attorneys, presidents, vice presidents, accounting managers, officers, controllers, CFOs, tax managers, business owners and managers, and enrolled agents.
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