NEW! 2-Hour Program
WHY ATTEND THIS COURSE?
The three most important principles to remember about tax exempt organizations are: Purpose, Purpose, and Purpose. An organization desiring to be exempt from regular income taxation must have a tax-exempt purpose that corresponds with those listed in the Internal Revenue Code; it must demonstrate its tax-exempt purpose in the operation of the organization, starting in year one, then continuing throughout its existence; and the actions of the organizers, directors, and officers of the organization must be consistent with the overall purpose for which the organization received its exemption. This introduction to tax exempt organizations identifies circumstances under which an organization may and may not be granted exemption. It describes the process for requesting tax-exempt status. Then it introduces basic concepts on which to build an organization that will be allowed to remain tax exempt.
CPAs having any involvement with tax-exempt organizations and preparation of Forms 1023, 1023-EZ, 1024, 990, 990-EZ, and 990-N. May also be suitable for public practice.
Participants will be able to:
COURSE ACRONYM: ITEO2
PRESENTATION METHOD: Group-live
LEVEL OF KNOWLEDGE: Basic
ADVANCE PREPARATION: None
FIELD OF STUDY: Taxes/Tax-Exempt Organizations
RECOMMENDED CPE CREDIT: 2 hours
SmartPros®, A Kaplan Company and Loscalzo Institute, A Kaplan Company are registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.