Q:

What are some tips for filling out a tax exempt form?

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Quick Answer

Some tips for filling out a tax exempt form include detailing organizational activities, specifying data on each pertinent tax form, attaching required schedules, and submitting applicable by-laws. The IRS states that its number one tip for shortening the tax-exempt application process is including the correct user fee.

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Full Answer

The IRS list of exempt organization user fees includes the dues for optional issues and requests. An applying organization calculates a total fee based on its requests, and includes with its completed tax-exempt form a sufficient check or money order made payable to the United States Treasury, the IRS website notes.

A key for the organization is explaining specific activities that will show how the organization achieves the tax-exempt purpose. The organization provides details of applicable past activities, current activities, and planned activities if they are already developed. Applications require supporting schedules according to the type of organization. Applying organizations need to include schedules, and check all line items on financial statements. If the organization has adopted bylaws, a fundamental is to submit a copy of the bylaws and other documents outlining the organization’s rules of operation. All the forms need to be completed fully and accurately. The IRS states that the information on each tax form is critical for it to determine tax-exempt status.

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