• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Lifestyle Links

Your One Stop Shop for Everything Lifestyle

  • Home
  • Lifestyle
  • DIY
  • Food
  • Health and Fitness
  • Hobbies
  • Travel
  • Contact

Why Does a Non Profit Organization Need a Tax ID?

December 22, 2017 by admin Leave a Comment

Running a business is hard work. There is a lot of worksite safety and other regulations that need to be considered. Even for non profit organizations, it’s important to make sure you follow the rules regulating these types of businesses. But, did you know many non profits can benefit from tax-exempt status? If you’re not sure how to apply for tax-exempt status, check out these tips. The first thing you should do, however, is secure your organization’s IRS-EIN-Tax-ID, like any other company.

Your Tax ID Number

Your company’s non profit organization tax ID number does not secure tax-exempt status. The tax ID number is your organization’s identification related to all of your business’ activities. It’s essential to apply for this number during the initial startup phase, so you don’t have to use your personal social security number. With a federal tax ID number, it will be easier to hire employees, conduct banking transactions on behalf of your organization, file taxes and secure a business license.

Tax-Exempt Status

After obtaining the federal tax ID, you can then start the process of becoming a tax-exempt organization. You’ll need to use your tax ID during the filing process with the federal government. Some states may also allow your non profit to apply for exemption from state taxes. After incorporating your organization, you will need to submit IRS paperwork that details your non profit’s purpose. Then, you will need to submit the appropriate filing fees and wait for a decision. If your organization is granted tax-exempt status, the IRS will send your company a non profit IRS determination letter. This is an important document that needs to be available to donors and other stakeholders so they can take advantage of the tax-exempt status.

IRS EIN Tax ID Filing Service can help your non profit get closer to tax-exempt status by guiding you through that important first step, applying for a federal tax ID. Get started on your organization’s tax ID application by filling out your details and answering the questions here. Once your tax ID application is complete, you can take the necessary steps to get tax-exempt status.

Filed Under: Workplace

Previous Post: « 5 ways to improve the funeral planning process
Next Post: What You Need to be a Professional Caregiver in the UK »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Let’s Be Friends!

RSS
Follow by Email
Facebook
fb-share-icon
Twitter
Tweet

Hi Friends!
I'm Fern and I have a love for travel, beauty, health and flowers! I went to school for nutrition, but wasn't really interested in being a nutritionist. So, I started to bartend and have since I graduated school a year ago.
I love talking to people, traveling and writing on my blog... and bartending allows me to do the things I love.

I can take off for a month to travel abroad and there will never be any shortage of bartending/serving jobs when I get home. I also love that I can work abroad bartending anywhere I want! So, I hope you enjoy my blog and if you have any questions, feel free to email me! :)

This message is only visible to admins.

Problem displaying Facebook posts.
Click to show error

Error: Server configuration issue

Twitter Feed

FernFollow

Fern
fernslifestyleFern@fernslifestyle·
14 Jun 2017

YUM!

epicurious@epicurious

These summer salads only get better overnight: https://t.co/sH3CFSMISF

Reply on Twitter 874790301960982528Retweet on Twitter 8747903019609825281Like on Twitter 8747903019609825281Twitter 874790301960982528
Retweet on TwitterFern Retweeted
laurDIYlauren ✄@laurDIY·
14 Jun 2017

my postmates ignored the giant "DECAF" note I left on my latte order and now I'm like

Reply on Twitter 874788328335212544Retweet on Twitter 874788328335212544254Like on Twitter 8747883283352125443890Twitter 874788328335212544
Load More...

Footer

Copyright © 2023 · Ferns Lifestyle Links