Are private schools tax exempt?

Every private school filing an application for recognition of tax-exempt status must supply the IRS (on Schedule B, Form 1023) with the following information. The racial composition of the student body, and of the faculty and administrative staff, as of the current academic year. read more

For each subordinate that is a school claiming exemption under section 501(c)(3), the information required by Revenue Ruling 71-447, 1971-2 C.B. 230 and Rev. Proc. 75-50, 1975-2 C.B. 587 (these requirements are fully described in chapter 3, under Private Schools; see also Schedule B, Form 1023). read more