Non-profits do not pay Federal income taxes. Many states also exempt these entities from state income taxes. The local tax assessor may also exempt the entity from property taxes. The IRS regulates non-profits by denying non-profit status to entities. It also has a whole regime of penalties and excise taxes to deter for-profit entities from……
Tag: Nonprofit Tax
Funeral Expense Organization Denied Nonprofit Status
Gargamel, the antagonist in the Smurfs, is the villain. Wile E. Coyote in the Road Runner, Raquelle in Barbie, Lex Luther in Superman, the Joker in Batman, Darth Vader in Star Wars. The list goes on. That is one side of these stories. It’s the side of the story that is presented to us. It……