SOME HAM CLUBS MAY LOSE TAX-EXEMPT STATUS!
May 4th, 2010 by hamslife
This post applies only to ham clubs in the
The “Cheat on your taxes and don’t be a fool…” philosophy stated in a nineteen sixties song creates headaches for people who want to do right. Charitable organizations have the right to claim a tax-exempt status under federal law. Income tax payers can deduct donations made to these organizations, if the right form is used.
Thieves, that is the proper term for people who cheat on their taxes, force the IRS to tighten the reins on legitimate organizations to help weed out the illegitimate organizations. The tax-exempt laws applies to all nonprofit organizations thus ham radio clubs that claim a nonprofit status must comply with a federal tax law passed three years ago.
Tax-exempt clubs, according to Section 501(c) of the Internal Revenue Code, must file a form 990 with the IRS prior to the fifteenth day of May each year.
If you belong to a tax-exempt club and the members of that club wish for it to remain in that statue then compliance with the IRS will be necessary. For more information see http://www.irs.gov/charities/index.html?navmenu=menu1 .
Category: nonprofit, IRS, federal tax law, Tax-Exempt, Ham Radio Club, amateur radio, Amateur Radio Club, ham radio | 2 Comments »









