IRS Now Accepting Streamlined Form 1023-EZ

By M. Thomas Langan II.

The IRS is now accepting a new shorter tax-exempt application form intended to help small charities apply for 501(c)(3) tax-exempt status more easily. The form, 1023-EZ, is only 3 pages long compared to full form that is 26 pages. Most organizations with gross receipts of $50,000 or less and assets of $250,000 or less are eligible to use the form.  The IRS expects around 70% of all applicants will qualify to use the shorter form.  Form 1023-EZ must be filed online and there is a $400 filing fee.

The form can be viewed here: http://www.irs.gov/pub/irs-pdf/f1023ez.pdf

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IRS to Offer Simplified Tax-Exempt Application

The IRS has announced plans to offer a much simpler form for many charities to apply for tax-exempt status. Most charities that expect to have no more than $200,000 in annual gross receipts and total assets of less than $500,000 will be eligible to use the form.  Whereas the current Form 1023 is 26 pages, the draft Form 1023-EZ is only 3 pages. The IRS’s goal is to streamline the application process while also freeing up resources to concentrate more on compliance with established charities. The IRS is currently accepting comments on the draft Form 1023-EZ and is expected to begin accepting them later this summer.

The draft Form 1023-EZ is available at: http://www.irs.gov/pub/irs-dft/f1023ez–dft.pdf

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For more information, Contact Us