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501(c)(3) Nonprofit Organization Tax Lawyers in Fort Lauderdale

Helping Nonprofit Organizations Meet Their Various Tax Needs

A 501(c) organization is a tax-exempt, nonprofit corporation or association. Section 501(c) of the United States Internal Revenue Code provides that 28 types of nonprofit organizations are exempt from some federal income taxes. Perhaps your organization qualifies for this status. Sections 503 through 505 set out the requirements for attaining such exemptions.

Becoming a tax-exempt organization can be a confusing process to go through alone, but with the help of an experienced Fort Lauderdale tax attorney at Bucci Law Offices, it can become a quick and easy procedure. If you have thought about creating a tax-exempt nonprofit — either a public charity or a private foundation — you could be missing an opportunity by waiting.

Reach out to us online or at (954) 800-2333 to learn more and consult with our attorneys.

Qualifying for Tax-Exempt Status

Bucci Law offers a wide array of tax planning services for organizations that are tax-exempt or are seeking to become tax-exempt. Our law firm also helps these organizations comply with their unique tax needs.

As stated above, there are 28 different kinds of organizations that are recognized by the IRS as having the opportunity to become tax-exempt. Exempt organizations are usually referred to as charitable organizations. Additionally, religious, educational, scientific, or groups literary in nature may be exempt under §501(c)(3) of the Internal Revenue Code. If your group alternatively performs some public good – such as tests for public safety, fosters national or international amateur sports competitions, or prevents cruelty to children or animals – it may qualify as exempt under the code as well.

To meet the requirements of tax-exempt status, an organization must meet the following criteria:

  • The organization's earnings must not go to any private individual
  • The organization may not attempt to influence legislation as a primary portion of its activities and it may not campaign for or against any political candidate

Political organizations, however, can file for §527 status, which requires registration with the Federal Election Committee.

Getting §501(c)(3) classification is just the first step. An organization must maintain its status with the IRS by filing annual tax returns and employment tax returns. Just because an organization is exempt from paying federal taxes does not mean that it is exempt from filing tax returns.

Compliance with State Tax Authorities

Nonprofits must also comply with rules set forth by state taxing authorities. An exemption for federal tax purposes is not an exemption for state purposes. A tax-exempt organization may still need to file state returns and pay state taxes. If you were not aware of or did not realize your reporting responsibilities as a §501(c)(3) and have past-due returns, contact the Fort Lauderdale tax lawyers at Bucci Law right away. It is a mistake to let unfiled returns haunt you. Failing to file returns can result in losing your §501(c)(3) status, while back taxes, penalties, and interest continue to pile up.

Donations & Contributions Can Qualify You for Tax Breaks

Even if you have not started your own organization, but you are a contributor to a §501(c)(3) recognized organization, you may receive special tax breaks. Qualifying gifts to a recognized §501(c)(3) are tax-deductible. The IRS publishes a list of recognized §501(c)(3) organizations every year so you can assure yourself that your donation will be acknowledged as a tax deduction by the IRS. Charitable deductions can be a part of a well-thought-out annual tax plan, or as part of your estate planning. Do not try to decipher the code on your own; let the professionals at Bucci Law explain how tax deductions can lower your taxes.

Helping Nonprofits Deal with Ongoing Tax Matters

In addition to helping nonprofit organizations establish themselves, our law firm also helps these organizations manage their other tax issues.

Nonprofits can turn to Bucci Law for issues regarding:

  • Resolving tax controversies
  • Tax audits
  • Tax appeals
  • Representing nonprofits in litigation

Given the unique structure of nonprofit organizations, a knowledgeable tax attorney can provide substantial value in helping an organization comply with tax laws.

Our nonprofit tax attorneys in Fort Lauderdale and Miami have decades of experience dealing with the IRS and can navigate through their rules and regulations while advising you of your options for obtaining tax-exempt status. If you feel your organization meets the above requirements and may be eligible for tax-exempt §501(c)(3) status, we can assist you in applying for this coveted status with the IRS.

Contact Bucci Law online or call (954) 800-2333 to schedule a consultation. We represent nonprofit organizations across the United States.

Why Choose Bucci Law Office for Your Tax Needs

  • Certified Public Accountant in OH & FL

  • Handles the Most Difficult Tax

  • Understands Tax Returns

  • Masters in Taxation

  • Over 50 Years of Collaborative Experience

  • Masters in International & Comparative Law

  • Recognized by Martindale-Hubbell, Super Lawyers & Avvo for Excellence