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New 1023-EZ Form Makes Applying for 501(c)(3) Tax-Exempt Status Easier; Most Charities Qualify
On July 1, 2014, the Internal Revenue Service introduced a new, shorter application form to help small charities apply for 501(c)(3) tax-exempt status more easily. The new Form 1023-EZ, available today on IRS.gov, is three pages long, compared with the standard 26-page Form 1023. Most small organizations, including as many as 70 percent of […]
DO THE TOP 1% PAY ENOUGH TAXES? TOO MUCH?
The top 1% of households pay too little in taxes. That’s the opinion of 55% of people surveyed in CNNMoney’s American Dream poll. More women (61%) than men (49%) held that view. And not surprisingly, so did more Democrats (77%) than Republicans (33%). Straddling the middle were independents, 52% of whom thought the tax burden […]
$100,000 Income: Three very different tax bills
$100,000 Income: Three very different tax bills There are a lot of differences between Queens, N.Y., Topeka, Kan., and Seattle. One that stands out: People making the same money in each of those places can face very different tax bills. CNNMoney asked the Tax Institute of H&R Block to compare the combined federal, state and […]