There’s a new application for charitable exemption status – a much simpler, shorter version of Form 1023. Check out the new Form 1023-EZ here. The IRS hopes the new form will speed their approval process (currently about nine months) so charities can get confirmation of exempt status sooner. Most organizations with gross receipts of $50,000 or less and assets of $250,000 or less are eligible to file the 1023-EZ. The form must be filed online and the filing fee is $400. If you have any questions or need help filing your application for exempt status, let us know – we can prepare your application or just offer advice before you file.
July 1, 2014