Hey, this is David McCree, CPA. Today, I want to talk to you about the new notice requirements for 501(c)(4) organizations. This notice is now required by the IRS for 501(c)(4) organizations to file, indicating their intent to operate as a (c)(4). Previously, there was no such notice, allowing 501(c)(4) organizations to form and operate for almost two years before the IRS became aware of their existence. Upon filing their tax return form 990, the IRS would finally discover their existence. However, the IRS now wants to be aware upfront of an organization's intent to operate as a (c)(4). To address this, the IRS issued temporary regulations in July 2016, explaining the process. Now, certain 501(c)(4) organizations are required to electronically submit Form 8976, which is a notice of intent to operate under Section 501(c)(4). This submission must be made within 60 days of the organization's date of formation. It is a one-time submission, and once it is filed, the organization will not need to submit it again under the current rules for nonprofit corporations. For date of formation, it refers to the date of incorporation for nonprofit corporations or the date the articles of association were adopted for unincorporated associations. The general rule is that a 501(c)(4) organization must electronically submit a properly completed Form 8976 to the IRS within 60 days after its formation date. However, there are special rules for organizations already in existence as of July 8, 2016. For these organizations, if they have either filed Form 1024 or a tax return on or before July 8, 2016, they do not need to submit Form 8976. This exemption applies as long as the form or tax return was filed on or before the specified date. Another special rule applies to organizations of the same type that...
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501 c 4 Form: What You Should Know
How to start a 501c4 States must set up state nonprofit incorporation procedures for 501(c)(4) organizations in order for those agencies to accept the 501c4 forms and to issue a letter of acknowledgement to the 501c4. How long does it take to get 501c4 status? It can take as few as two business days to process a 501c4 application. Are you a 501c4 organization? The IRS recognizes 501(c)(4) tax-exempt organizations and has published a list of these organizations. How much does it cost to start a 501c4? There is no fee for registering a 501c4 nonprofit. How to recognize exemption under Section 501(c) (C) of the Internal Revenue Code (the nonprofit organization) States must set up state nonprofit incorporation processes for 501(c)(4) organizations in order for those agencies to accept the 501c4 forms and to issue a letter of acknowledgement to the 501c4. States are legally required by Congress to establish process for recognition of exemption under Section 501(c)(4) of the Internal Revenue Code (the 501c4) organizations. The nonprofit organizations register with the state through a “recognition notice” and provide a copy of their state statute to the IRS. If the IRS grants recognition to the 501c4 organizations, the IRS authorizes the application for recognition to be filed with the IRS. State nonprofit incorporation forms available.
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