Premium Only Content
How to Verify 501(c)(3) Status with the IRS
Generally, contributions to a charitable 501(c)(3) organization are tax deductible for the donor of the cash or property. The amounts are treated as an itemized tax deduction and reported on Schedule A of the taxpayer's Form 1040 individual tax return.
But, how do you verify the charitable status of the organization and why does it matter?
Note that if you make contributions to an organization that is not a tax exempt "charitable" organization, you will likely not be able to deduct those contributions.
You can check the IRS website below to lookup the nonprofit entity.
https://www.irs.gov/charities-non-profits/tax-exempt-organization-search
For a larger database of tutorials, please visit our website and search for your question:
https://knottlearning.com/
DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials.
#IRS #CharitableOrganization #501c3
-
16:38
James Klüg
18 hours agoFOOD STAMPS RAN OUT, Will People Loot?
37517 -
23:56
Producer Michael
16 hours agoBuying My Wife a $500,000 Diamond Necklace!
465 -
22:31
Jasmin Laine
14 hours agoLara Trump SILENCES Liberal Canada—Bank ADMITS We Have NO Other Options
1.02K12 -
16:34
Rethinking the Dollar
17 hours agoMetals Capped, Crypto Held Back: How Banks Are Quietly Building A Digital Finance Empire
3927 -
38:21
Uncommon Sense In Current Times
15 hours agoWho You Really Are | Dr. Neil Anderson on Identity, Freedom & the Power of Truth in Christ
7.53K2 -
8:05
Millionaire Mentor
18 hours agoMegyn Kelly SHOCKED As Hunter Biden Spills Kamala’s Dirty Secret
1093 -
9:26
TheSaltyCracker
14 hours agoHero Cop Puts Down Lunatic Holding a Kid Hostage at Knife Point
20.2K180 -
1:27:58
Coin Stories with Natalie Brunell
15 hours agoQuantum Threat to Bitcoin? Pysh & Lepard Break Down Quantum, A.I. Displacement and Growing Socialism
1181 -
3:53
WildCreatures
3 days ago $0.15 earnedSwimming With the Giants, Whale Sharks of Darwin Island
1.1K3 -
12:09
Actual Justice Warrior
17 hours agoTEEN Mob ATTACKS Domino's Pizza
2.08K16