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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
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