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This limiting of the powers is crucial to obtaining tax exempt status with the IRS and then on the state level. [12] Organizations acquire 501(c)(3) tax exemption by filing IRS Form 1023. [13] As of 2006, the form must be accompanied by an $850 filing fee if the yearly gross receipts for the organization are expected to average $10,000 or more.
A 501 (c) organization is a nonprofit organization in the federal law of the United States according to Internal Revenue Code (26 U.S.C. § 501 (c)). Such organizations are exempt from some federal income taxes. Sections 503 through 505 set out the requirements for obtaining such exemptions. Many states refer to Section 501 (c) for definitions ...
Congress enacted an income tax in October 1913 as part of the Revenue Act of 1913, levying a 1% tax on net personal incomes above $3,000, with a 6% surtax on incomes above $500,000. By 1918, the top rate of the income tax was increased to 77% (on income over $1,000,000, equivalent of $16,717,815 in 2018 dollars [24]).
The lights of Cincinnati City Hall will remain illuminated overnight between January 19 and January 20, 2021 to celebrate the peaceful transfer of power of the President of the United States of ...
Blue Wisp Jazz Club was a Cincinnati institution and internationally known venue. Established in 1977 by Paul Wisby in O'Bryonville as a bar, the Blue Wisp quickly became well known for its jazz music. Marjean Wisby continued the club's tradition after her husband's death in 1984, later moving the club to the basement space at 19 Garfield Place ...
He is also consulting on the campaign against Issue 24, which would amend Cincinnati's charter, raising the city's earned income tax to pay for affordable housing.
As the city closes out its 2024 budget in the weeks ahead, there is an opportunity to leverage our proposed city investment of up to $10 million to yield $28.8 million in federal and state investment.
United States Senate inquiry into the tax-exempt status of religious organizations. Senator Chuck Grassley. The United States Senate inquiry into the tax-exempt status of religious organizations was an investigation of six 501 (c) religious organizations conducted by the United States Senate Committee on Finance lasting from 2007 until 2011.