Posted on 07/13/2014 6:51:17 PM PDT by 2ndDivisionVet
IRS head touts “efficiencies" but some groups fear fraud.
Amid ongoing controversy over its scrutiny of non-profits, the Internal Revenue Service has decided it will no longer screen approximately 80% of the organizations seeking tax-exempt charitable status each year, a change that will ease the creation of small charities while doing away with a review intended to counter fraud and prevent political and other non-charitable groups from misusing the tax code.
As of July 1, any group that pays a $400 fee and declares on a three-page online form that it has annual income of less than $50,000, total assets of less than $250,000 and is in compliance with the tax code requirements of a charity will automatically be allowed to accept donations that are tax-deductible for the donors. Previously the groups had to fill out a detailed 26-page form, submit multiple supporting documents and provide a narrative description of their intended activities....
(Excerpt) Read more at time.com ...
The cynicism of this administration is incredible.
please donate money to my charity... White Men for Hot Chicks in Bikinis o Trampolines, Guns, God, and Ted Cruz. I expect to get my 501(c)(3) status any day now.
I think my charity may be able to participate in crossover fundraising activities... my membership just requires a writeup and photos of the three potential charity-sponsored individuals.
yes, freedom, asking to be left alone is extreme position
Under the FairTax, ALL business entities would be tax-FRee!
There would be no such thing as a “501 C-3” organization, and no need for a Lois Lerner!
See http://www.fairtax.org for more information.
Will the application form be in Spanish ?
My understanding was that those organizations behind this case were STILL being held up in processing/approval.
Has this changed?
Still a good idea to name your charity something like Transgender Progressives for Equality. That will guarantee you are not in the 20% that gets screened.
I filed a 501(c)(3) app a year ago, and my organization — Ham Radio Club — is finally getting the approval. A year in the process!
We have $2500 in the bank, annual revenue of about $6000, and assets of $10K.
Where was this new reg when we needed it?!!!
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