To start with, I am going to assume that the child is the biological child of both of you and that you live together. In that case, only one person can claim all the tax benefits -- dependent exemption, child tax credit, head of household filing status (sometimes), EIC (sometimes), and dependent care credit or tax-free FSA.
The Statute IRC 501(c)(4) provides for exemption of: Civic leagues or organizations not organized for profit but operated. exclusively for the promotion of social welfare. Local associations of employees, the membership of which is limited to the. employees of a designated person or persons in a particular municipality.
A 501(c)(3) corporation is a non-profit organization that gains a tax-exempt status under section 501(c) in the U.S. Internal Revenue (IRS) Code [26 U.S.C. 501(c)].Many types of clubs and groups are eligable for 501c3 incorporated status, but part 3 is developed for religious, educational, and charitable entities.ere's a list of other types of organizations who are also 501(c)(3) tax-exempt non-profits: These are the organizations your 501c3 church, pastors, and deacons have chosen to get in bed with, and they need to come out from among them and be separate.