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Shorter Application Form for Tax-Exempt Status Now Available

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Shorter Application Form for Tax-Exempt Status Now Available

Small charities applying for 501(c)(3) tax-exempt status may now use a shorter application form that’s expected to ease the process.  The new Form 1023-EZ, available on IRS.gov, is three page long, compared with the standard 26-page Form 1023 that larger organization must use.

Most nonprofits with gross receipts of $50,000 or less and assets of $250,000 or less are allowed to use the EZ form, which must be filed online.  The IRS says that as many as 70% or all applicants seeking 501(c)(3) tax-exempt status may qualify to use the form. 

 

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