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Obtaining and Sustaining a Tax-Exempt Status, by Lorman

Obtaining and Sustaining a Tax-Exempt Status is brought to you by Lorman

Gain a better understanding of the application process and identify key issues when preparing an exemption application.

Many organizations receive recognition of tax-exempt status under Code Section 501(c)(3) but often do not understand the ongoing compliance requirements to maintain such status including the ramifications of noncompliance. This topic helps individuals who are assisting organizations apply for tax-exempt status under Code Section 501(c)(3) understand the application process and to identify key issues when preparing an exemption application. This material also reviews key issues relating to maintaining tax-exempt status such as annual filling requirements as well as areas that can result in audit or even revocation of tax-exempt status.

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