It Is Now Easier to Move a Nonprofit to a New State

It Is Now Easier to Move a Nonprofit to a New State

Many nonprofits have moved their headquarters to a new state for financial or practical reasons.  Prior to 2018, a nonprofit organization would have to re-apply for tax-exempt status with the IRS after moving states--an arduous and often expensive undertaking. 

For years, tax people have asked the IRS to allow nonprofit organizations to easily and simply move to a new state without having to re-apply for exempt status.  The IRS has finally listened.  Under new Revenue Procedure 2018-15, a nonprofit organization may move to a new state without re-applying for exempt status.  Instead, the 501(c)(3) organization will note the change on Form 990 and may also file Form 8922-B to update their address.

The new Revenue Procedure also applies to corporate survivors of certain restructurings of domestic section 501(c) organizations.

 

 

Financial Mismanagement

Financial Mismanagement

IRS Releases New Form 1024-a for 501(c)(4) Organizations

IRS Releases New Form 1024-a for 501(c)(4) Organizations