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International Journal of Accounting Research

What Do Not-For-Profit Corporations Need To Do, In Order To Maintain Their Tax-Exempt Status?

Seyam A1 * and Kotkin E2
1. Borough of Manhattan Community College, USA; 2. Financial Services, Ernst and Young
Abstract :

This paper will discuss the process that not-for-profit (NFP) organizations must undergo to qualify for tax-exempt status. It will begin by discussing the steps that must be followed in order for not-for-profit organizations to receive tax-exempt status, as well as what they must do in order to maintain that status. It will then explain the rules these organizations must follow to remain exempt, the activities that can jeopardize their tax exempt status, and the effect of losing said status with specific focus on the rules dictating automatic revocation of tax exempt status. The article will then conclude with some recommendations that can be implemented to improve the effectiveness of charitable organizations.

Keywords :
Not-for-profit; NFP; Tax-exempt; Automatic revocation; Reinstatement

Date Deposited : 04 Nov 2016 18:58

Last Modified : 04 Nov 2016 18:58

Official URL:

Volume 4, Number 1, June 2016 , ISSN IJAR, an open access journal

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