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Formal organization means that an organization has set itself up under state law. It has issued an employer identification number (EIN) by the IRS. Its appropriate federal tax classification (corporation, partnership, etc.) has been identified.
Formal organization is required in order to apply for tax-exempt status with the IRS. Tax-exempt status means exempt from federal income tax under section 501(c)(3) of the Internal Revenue Code. An organization that's been granted tax-exempt status by the IRS is called a charitable organization.
For more information, go to www.irs.gov/formspubs for Publication 557 (Tax-Exempt Status for Your Organization). Also go to the IRS Charities and Non-Profits Section at www.irs.gov/charities for Exempt Organizations FAQs and more.
What else can I help you with?
What are the benefit of formal organization obtain from informal organization?
what are the benifit of formal organization obtain form informal organization ?
Is the university of Iowa a formal organization?
Is the universtiy of iowa a formal organization
A formal organization is often conceived as a communications system?
A formal organization is often conceived as a communications system. Is it? How
Is school a formal organization?
Yes the school is a formal organizationu
Difference between formal and informal organisation?
difference between formal organization structure and informal organization structure.
What is the importance of formal groups to an organization?
importance of formal groups
Advantages and disdvantages of formal organization?
disadvntage of informal organization
What are the disadvantages of no formal organizational structure?
what are the advantage and sisadvantage of formal organization
Major determinants of organizational behavior?
Organization as a system formal and informal organization
What is an organization classify organization into different groups and give specific examples each?
The different groups of organization are formal and informal. The formal organization is making goals by laying down a structure and informal organization is making goals based on feelings and emotions.
How is formal relationship affects an organization?
it doesnt.
Trace the line of formal communication at your organisation?
trace the lines of Formal communication at your organization?
