1120-pol extension Form 2023-2024

1120-pol extension Form: What You Should Know

Form 1120-POL — the form for the non-profit When we started The Tally Hopper, it had a political side. Our political organization was not a tax-exempt organization. It had no deductible expenses, so we did not file a Schedule C. If we were asked to provide tax-exempt information, we did not file one, either. We just called the IRS number provided by the “political organization”. That was the easy part, but the tricky part was in determining exactly how much we were required to report. This became obvious when we called about the Forms 1120-POL. We were told that the political organization was required to provide an estimate of the taxable income for all of its activities. We had been told that we were required to pay 1.15 million dollars in tax per year, if they did not file, before we got to deducting any expenses or paying income taxes. Furthermore, we were told that we would get the tax information for our group after the Form 1000 (Forms 1098) was filed, and on IRS 1040NR(s) when they filed Form 990. Furthermore, we called a number of other local 501(c)3 organizations to see what we were required to do: We were told that we needed to provide our IRS 1040NR for the years we were exempt, as well as for all years we could have been a 501(c)3, which did not matter. All of our local IRS offices were able to provide us with their Form 1040NRs. But there was one thing left to do. We still needed to file Schedule C for our IRS taxable income. We had to have it completed on time, no later than September 10, 2011. But, on September 28, when I called again, the IRS told me that they would send me the Form 1000 once they received it. The Form 1000, Form 1098, Form 990, and other information on  tax-exempt status and reporting of expenses for political organizations.

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