Applying for 501(c) tax exemption can feel like the most daunting step in bringing your nonprofit dream into reality, but obtaining tax exemption comes with many benefits. For example, you will be able to apply for grants and grow your fundraising success in addition to being exempt from IRS income tax.
501(c) is the chapter of the Internal Revenue Code that regulates nonprofit organizations. Like others, you may be most familiar with 501(c)(3) nonprofits, including charities and foundations. 501(c)(3) nonprofits apply using Form 1023 or Form 1023-EZ. Our team of experts at Rubio & Son will review the criteria for each application and ensure that you meet the eligibility requirements set out by the IRS.