Discover how IRS Publication 557 can guide your organization to secure and maintain tax-exempt status, ensuring compliance with essential IRS regulations.

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"Tax-exempt status" means that an organization does not have to pay state or federal income taxes. Once an organization earns tax-exempt status, it typically has annual filing requirements with the ...

If you’re hiring workers for your business, it’s critical to understand the difference between exempt and non-exempt employees. This understanding can help you stay on the right side of labor laws and ...

The due date for many tax-exempt and charitable organizations is the 15th day of the 5th month after the end of the accounting year. For an organization with a December 31 year-end, that’s May 15.

The Fair Labor Standards Act (FLSA) applies to most organizations and designates each worker as either an exempt employee or a non-exempt employee. Both types of employees are covered by basic laws ...

Non-exempt employees are hourly workers guaranteed a minimum wage and overtime pay of at least 1.5 times their normal, hourly rate for any hours worked over 40 per week by the FLSA. The Fair Labor ...

Forbes contributors publish independent expert analyses and insights. Marie Sapirie writes about federal tax issues and litigation. Cambridge, Massachusetts, USA - May 22, 2023: Students in graduation ...

I am an exempt employee who works for a company that does not keep time sheets or any records of time worked on their exempt employees. I work 50-60 hours a week and if I have to go to the Doctor they ...