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Tax Exempt vs 501C3? What's the difference?

7 years 5 months ago #170805 by Rose H
Hi Genifer,

Many, many groups do this on their own. If your group brings in less than $50,000 in gross receipts (money that's come in from fundraisers or other sources), then you can actually file online with the IRS by completing a fairly straightforward form.

Here's some info on the process: www.irs.gov/uac/about-form-1023ez

Good luck,
Rose
7 years 6 months ago #170771 by Genifer
Replied by Genifer on topic Tax Exempt vs 501C3? What's the difference?
Do you have to hire an accountant to have a 501C3?
16 years 9 months ago #134475 by lhennessy
Hello!
I am on a PTA board in Michigan. I have a copy of an IRS determination letter that is 2 years old. I thought that it would be a good idea to get a more current one and I called the IRS today.
In the past, we just contacted the IRS directly, they looked up our tax ID number and then faxed and mailed the letter to us. Today, I was informed that our PTA group has to contact the Michigan PTSA to get a copy of their determination letter that then a letter from the Michigan PTSA to us saying that we are in good standing with them.
Just passing along the info... in case anybody else runs into the same issue.
Have a good one! :)
16 years 9 months ago #134450 by PTOMOM70
WOW! I can't thank you all enough! Great Information. I just got through printing out all of your comments to bring to my next board meeting.
Take Care,
Kathy
16 years 9 months ago #133933 by JHB

momofbobcats;133931 wrote: If you file for the 501(c)(3) status with the IRS, please be aware that the process can take up to 18 months or more before they actually make a determination. The determination is retroactive to the date of filing. We were lucky and got our status in 8 months, but we nagged them a lot and had our congresswoman's office nag them too.


I believe your experience must have been very unusual. We have had many discussions on this site about the 501(c)(3) timeline. For most of us it was more like 6 WEEKS. Note - the entire process of creating an organization, drafting bylaws, etc. can easily drag into months. But the time from when the paperwork is filed (completely and correctly) with the IRS until you get your determination letter should only be a matter of weeks, maybe a couple of months.
16 years 9 months ago #133931 by momofbobcats
If you file for the 501(c)(3) status with the IRS, please be aware that the process can take up to 18 months or more before they actually make a determination. The determination is retroactive to the date of filing. We were lucky and got our status in 8 months, but we nagged them a lot and had our congresswoman's office nag them too.
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