What is a 501(c)(3) tax-exempt organization?

A publication describing, in question and answer format, the federal tax rules that apply to group rulings of exemption under Internal Revenue Code section 501. Political Campaign Activity by section 501 (c) (3) tax-exempt organizations Unrelated business income tax requirements for tax-exempt organizations.

Who regulates Section 501(c)(3)?

The rules outlined in Section 501 (c) (3) are regulated by the U.S. Treasury through the IRS. Section 501 (c) (3) is a portion of the U.S. Internal Revenue Code (IRC) and a specific tax category for nonprofit organizations. Organizations that meet the requirements of Section 501 (c) (3) are exempt from federal income tax.

Are 501(c)(3) organizations tax deductible?

Organizations described in section 501 (c) (3) are commonly referred to as charitable organizations. Organizations described in section 501 (c) (3), other than testing for public safety organizations, are eligible to receive tax-deductible contributions in accordance with Code section 170.