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Tax related question

Discussion in 'Taxation' started by Tau I Robinson-Farrar, Jul 29, 2020.

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  1. Tau I Robinson-Farrar

    Tau I Robinson-Farrar Law Topic Starter New Member

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    Jurisdiction:
    New York
    What happens to status when a non-profit entity does no activity in a tax (Calendar year) period?
     
  2. army judge

    army judge Super Moderator

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    I suppose you mean the "tax exempt status" of the entity to which you refer, correct?

    When you asked the entity's CPA or tax lawyer, what did she or he say?
     
  3. Tau I Robinson-Farrar

    Tau I Robinson-Farrar Law Topic Starter New Member

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  4. flyingron

    flyingron Well-Known Member

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    I'm not sure what the question you are asking is. Corporations (for-profit, non-profit, or tax-exempt) have to file federal returns of some sort of return. Unlike individuals, there's no "minimum income" level that triggers the obligation. There's some exception for certain listed types (notably churches and certain political organizations).

    The same is true in NY, except there's a broader exemption for certain organizations not ever having to file (but they do have to apply to be exempt from filing).
     
  5. Tax Counsel

    Tax Counsel Well-Known Member

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    A tax exempt organization will not lose its tax exempt status with the IRS simply because it had no activity in a particular tax year.
     

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