1. Why is it not true that tax exemption is not available merely because an organization has been set up and is not operated as a for-profit organization?
2. What are the main issues to consider while deciding whether to apply for recognition of tax exempt status?
3. What is the purpose of each IRS form listed in the reading?
4. How is preparing an application more of an "art" than a "science"?
5. What is the 27 month rule in Part VII, question 2 of the 1023 application?
6. What is a notice filing and when is it required?
7. Explain the recent constitutional law perspective to the application process?
8. When can an organization use the tax exemption on a group basis procedure?
9. What categories of organizations are exempted from filing an application for recognition of exemption?
10. What are the guiding principles behind the IRS annual Information return (Form 990)?
11. What types of organizations are not required to file an annual information return?
12. What are the consequences of not timely filing a required information return?
13. What are the consequences of failure to file an information return for three consecutive years?