The IRS Audit Blog

Archive for April, 2006

Question: If I file my 501(c)3 papers tonight, can I run my company now like a 501(c)3 and accept donations? How?

Would I backdate receipts from charitable donations? Could I accept payment from clients or would I have to wait 8-10 months for the IRS forms to officially go through?

Answer: You are not a 501(c) 3 organization until you have been approved. Depending on what state you are operating that may take a great deal more than the IRS paperwork.

Don’t assume donations are tax deductible, IRS says

Although it may not be for everyone — especially this year — a donation to charity is one way to shave your income tax bill. But you’ll want to keep in mind rules about documentation and the limits…

Great Option Replay North Port Mustangs

Question: i CAN’T FIND THE IRS FORM 990 FOR AARP?

AARP IS A NON-PROFIT AND THEY MUST FILE A FORM 990 SINCE THEY ARE 501 (C) (4) CORP.

Answer: Download 2006 form 990 and instructions from

http://www.irs.gov/formspubs/lists/0,,id=97817,00.html

501(c) (4) organisation should also use this form.

Watchdogs on Alert for Haiti Charity Fraud

Experts Say Stick with Tried and True Charities

Kent Hovind put his supporters at legal risk?

Standard or itemized tax deduction?

Tax deductions reduce your taxable income, so choose the one that gives you the smallest tax bill.

How to Complete and File a 1040EZ Tax Form : How to Fill Out a 1040EZ Tax Form

Jacksonville business to hire 120 workers

JACKSONVILLE, Fla — Jacksonville based Tax Defense Network says it will hire 120 people within the next 90 days.

IRS Confirms Cash Gifting Legality – MUST Listen

Tax opportunities during taxing times

The Internal Revenue Service has designated Jan. 29 as Earned Income Tax Credit Awareness Day. At Oweesta we work with Native communities to help them build financial assets, and we are partnering with the IRS to promote awareness of the EITC throughout Indian country.

How to Complete and File a 1040EZ Tax Form : Who Uses the 1040EZ Tax Form?