Truechild Inc

“In accordance with financial accounting standards board accounting standards codification 740-10, accounting for uncertainty of income taxes which clarifies the accounting for the recognition and measurement of the benefits of individual tax position in the financial statements, including those non-profit organizations. Tax positions must meet a recognition threshold of more-likely-than-not in order for the benefit of those tax positions to be recognized in the financial statements. Tc analyzes tax positions taken, including those related to the requirements set forth in irc sec. 501(c) to qualify as tax exempt organization, activities performed by volunteers and board members, the reporting of unrelated business income, and its status as a tax-exempt organization under florida statute. The organization is not aware of any tax benefits arising from uncertain tax positions and there was no effect on the organization's financial position or changes in net assets as a result of analyzing its tax positions. Fiscal years ending on or after december 31, 2014 remain subject to examination by federal and state authorities.”

“Truechild is exempt from federal and local income taxes under section 501(c)(3) of the internal revenue code on any net income derived from activities related to its exempt purpose. This code section enables the organization to accept donations that qualify as charitable contributions to the donor. Truechild is subject to tax on net income from unrelated business activities. For the year ended december 31, 2021, did not recognize income tax expense in the accompanying financial statements as there was no unrelated business taxable income. The organization is not aware of any activities that would jeopardize its tax exempt status that would require recognition in the accompanying financial statements, pursuant to asc for income taxes. Generally, tax returns are subject to examination by taxing authorities for up to three years from the date a completed return is filed. The open tax years are june 30, 2019- 2021. If there are material omissions of income, tax returns may be subject to examination for up to six years. It is truechild' policy to recognize interest and/or penalties related to uncertain tax positions, if any, in income tax expense. As of december 31, 2021, the organization had no accruals for interest and/or penalties as there were no uncertain tax positions.”