Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- Re: Should a nonprofit whose exemption status was revoked fornot filing electronically. Should nonprofit owner file the activity on schedule C.
Should a nonprofit whose exemption status was revoked for not filing electronically. Should nonprofit owner file the activity on schedule C.
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
iysong
Level 1
04-04-2024
05:29 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
nonprofit has no profits.
Labels
2 Comments 2
sjrcpa
Level 15
04-04-2024
06:58 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Nonprofits don't have owners.
Is it a corporation? Most nonprofits are. Ergo 1120 is to be filed.
Will he try to get the exemption reinstated?
The more I know, the more I don't know.
qbteachmt
Level 15
04-05-2024
10:26 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
"nonprofit has no profits."
Which is not the same as no activity.
And it's technically "Not For Profit" and not "nonprofit." Any entity that is nonprofit will not last very long. The NFP entity is operating with a public good and charitable intent, hence "not for profit."
*******************************
Don't yell at us; we're volunteers
Don't yell at us; we're volunteers
