Bylaws are an organization's internal operating rules. Federal tax law does not require specific language in the bylaws of most organizations. State law may require nonprofit corporations to have bylaws, however, and nonprofit organizations generally find it advisable to have internal operating rules.
For additional information on what the state may require with respect to bylaws, you may want to contact state officials.
Exempt organizations must keep books, reports and file returns based on an annual accounting period called a tax year. A tax year is usually 12 consecutive months. Organizations that want to specify an annual accounting period generally do so in their bylaws.
There are two kinds of tax years:
Federal tax law does not require specific language in the bylaws of most organizations.