From IRS EO Update December 27, 2023
“The IRS offers a free 10-course workshop to assist Section 501(c)(3) tax-exempt organizations and those who would like to apply for federal tax-exempt status.
The online training is free at stayexempt.irs.gov. The workshop provides interactive instruction for both existing Section 501(c)(3) organizations and those seeking tax-exempt status. Participants will learn the benefits, limitations and expectations for Section 501(c)(3) organizations.
This virtual workshop includes 10 topics of interest to Section 501(c)(3) tax-exempt organizations:
- Applying for Section 501(c)(3) Status This course discusses eligibility, the benefits of exemption, applying and what you should do while waiting for a determination letter.
- Maintaining 501(c)(3) Tax-Exempt Status This course discusses activities that can jeopardize an organization’s Section 501(c)(3) tax-exempt status.
- Employment Issues If your organization has employees or volunteers, it may have tax responsibilities. This course explains how to report employee wages and the rules about volunteer gifts.
- Required Disclosures This course discusses which documents must be provided upon request and the penalties for noncompliance.
- Form 990 Overview Course Most tax-exempt organizations must file an annual Form 990-series return. This course offers tips on which form to file, how to prepare during the year and how to avoid automatic revocation.
- Unrelated Business Income This course discusses how to determine if your tax-exempt organization has taxable income and how to report it.
- Political Campaigns and Charities: The Ban on Political Campaign Intervention Political campaign activity can jeopardize a Section 501(c)(3) organization’s exempt status. This course provides examples of prohibited activities and explains steps an organization should take to avoid an inadvertent violation.
- Charitable Gaming for Exempt Organizations Exempt organizations often generate income through gaming. This course discusses gaming rules, documentation and possible tax implications.
- Can I Deduct My Charitable Contributions? This course explains what is deductible, what records to keep and how to report contributions.
- Protect Your Social Security Numbers This course explains why you should not include Social Security numbers on publicly-disclosed IRS documents such as the Form 990.”
From IRS EO Update December 27, 2023