Form 1024

Form 1024

A form that an organization files with the IRS to apply for tax exempt status under various sections of the Internal Revenue Code. For example, social clubs may use Form 1024 to achieve tax exempt status.
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On September 2, 2011, Family Talk Action filed a Form 1024 with the Internal Revenue Service requesting 501(c)(4) status.
You will need to file Form 1024 if applying for tax-exempt status under section 501 (c)(6).
In addition to confirming that the nonprofit's Form 1023 (or Form 1024 if applicable), Form 990 and 990-T are available for public inspection as required by IRC [section] 6104 (with names and addresses of contributors redacted), the IRS is now interested in how that disclosure occurs: on the nonprofit's website, another person's website, or upon request.
Compliance would include providing copies of Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code; Form 1024, Application for Recognition of Exemption Under Section 501(a) for Determination Under Section 120 of the Internal Revenue Code; and any supporting documents filed by the organization as part of its application.
Finally, the court noted that the projected budgets for the VEBA included in a Form 1024 submitted to the IRS projected year-end balances that only approached $8 million.
If an organization decides to seek reclassification from 501(c)(3) to 501(c)(6), IRS must be notified and a Form 1024 exemption application filed.