July 1, 2014
Today the IRS announced it has released a new Form 1023-EZ to make applying for 501(c)(3) tax exempt status easier. The press release said:
The Internal Revenue Service today introduced a new, shorter application form, Form 1023-EZ, to help small charities apply for 501(c)(3) tax-exempt status more easily. Most organizations with annual gross receipts of $50,000 or less and assets of $250,000 or less are eligible. See news release for details.
The change will allow the IRS to speed the approval process for smaller groups and free up resources to review applications from larger, more complex organizations while reducing the application backlog.
The new 1023-EZ form must be filed on www.pay.gov, accompanied by a $400 user fee (On July 1, 2016, the IRS lowered the fee to $275). The instructions include an eligibility checklist that organizations must complete before filing the form.
You can see what the Form 1023-EZ looks like here.
Parts II and IV might be a little confusing. The instructions for this 3 page form is 20 pages long!
If you need assistance filling in the Form 1023, I help homeschool organizations by offering a service to review your organizing documents for compliance and guide you through the form.
Contact me to arrange a phone consultation to go over your Form 1023-EZ.
Carol Topp, CPA