Tax ID number
 

did you have a problem with tax id numbers? Some businesses require tax id number for fundraising......please let me know what to do............

it's to prove that you have non profit status. nationals already have this set up for them. Non national groups have a bit of trouble cuz the actual tax id process costs about $300+. So you kinda have to fundraise to get recognized to fundraise.

If you're a local, you definately should seek a lawyer's advise about becoming a tax exempt organization (i.e. a 501(c)(3) organization). You can get the forms and everything through the IRS, but it's a very complicated process and you'd probably have to have some alumnae get involved.

Also, if you're not established as a corporation, you're also going to have some trouble.

If it's something you're serious about, seek a lawyer that specializes in non-profit organizations. You could find one by calling your county's Bar Association- they probably have a Lawyer Referral Service.

If you need a recommendation for your area, PM me and i'll ask my Non-Profit Organization Law professor if they can recommend someone.

We got our tax ID # so long ago that I couldn't tell you anything about it. Sorry :(

Fraternal organizations don't qualify for 501c3. We do, however, qualify for 501c7. You can download the forms from IRS's website at irs.gov.

Yeah, it really is a huge pain in the ass though.

I wonder how hard it is or how much it costs........I also have to do it for my honor society the Chi Sigma Iota......it sucks.....I have no experience with taxes since I am young :(

does the frat/sorority have to file taxes???

I just called up headquarters to get the tax ID for my chapter...I called the financial dept. and it didn't take too long at all.

The Employer Identification Number is the one you want, its synomomous with a Tax ID Number. It is extremly easy to get, and in fact can be done online now.

The hard thing to get however (and the one that requires the $$$ and the Lawyers) is to get a Tax Exemption Number, which is the number that says you don't pay sales taxes (like churches or state agencies).

The EIN/Tax ID is what allows you to establish a bank account for an organization. Usually business require that information because that is whom they write the check out to, instead of trusting it in the hands of a individual. On the SS-4 form (or if you call) there's a question that you put that your a Non Profit Organization.

I work in the Student Organization Office at this university, and we are asked about this quite a bit.

We own our house and have to pay thousands in property taxes each year. It's amazing how fast you grow up when you become the treasurer of the fraternity, lol!

RUgreek

But if you don't have any employees, then why/how would you get an Employer Identification Number? (I understand that if your Housing Corp has a houseparent as an employee, then it's different).

Our HQ took care of the Tax ID's for each chapter...it's the number used to open our checking/savings accounts (instead of a member's SSN).

PsychTau

I'm in the process of trying to do this for my specific chapter's philanthropy committee, so eventually donations to our philanthropy can be tax-deductable. You need to have an employer id number to even start the process of becoming a tax-exempt organization (even if you have no employees).
Getting the EID is actually really easy, you just fill out a form on the irs page, irs.gov
good luck

pscyhtau....
many orgs get a EIN so they can open a checking account without using an individual's SSN. no employees needed and that doesn't mean you have to file taxes. i don't think you have to file taxes unless you make more that $5,000 per year. most non-greek orgs don't have to worry about it.

If you think that, I'd recommend your chapter either find an alum who is a CPA or tax lawyer, or at least hire one.

If you're wrong, it's going to cost you .

It depends on the state where the organization's annual report is filed. For the Feds, it's actually $25,000 in most cases.

It's just called that. Like your SS# is now called your "Taxpayer ID number"; rather or not you actually pay your taxes ;)

All non-profit organizations have to have a tax ID number, even if you pay absolutely no taxes at all. Our chapter (unhoused and with pretty much no other assets) even has one, but we also have a group ID number that our fraternity files our tax forms for. We don't pay taxes, but you still have to make a filing.

Earlier this year our chapter got a letter from the IRS notifying us that we hadn't filed anything in the past and that we may have to under recent legislative changes. Long story short, HQ files for us under the group ID number and the IRS refuses to cross reference the group ID numbers with the individual chapters' numbers and so we were erroneously sent the letter. I'm just putting it out there in case the IRS sends letter out to other chapters with people on GC. Just contact your HQ and most likely they have a form letter regarding the individual/group ID letter crap that they will send to the IRS.