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Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Thursday, July 3, 2014

IRS Introduces New 1023-EZ Form

IRC

Yesterday the IRS introduced a shorter application form to help small charities apply for 501(c)(3) tax-exempt status with ease.  “This is a common sense approach that will help reduce lengthy processing delays for small tax-exempt groups and ultimately larger organizations as well.  The change cuts paperwork for these charitable groups and speeds application processing so they can focus on their important work.”

The new, Form 1023-EZ, available on IRS.gov, is three pages long, compared with the standard 26 page Form 1023.  Most small organizations qualify to use the new streamlined form.  “Previously, all of these groups went through the same lengthy application process—regardless of size.  It didn’t matter if you were a small soccer or gardening club or a major research organization.  This process created needlessly long delays for groups, which didn’t help the groups, the taxpaying public or the IRS.”  This change will help the IRS to speed the approval process for smaller groups and open up resources to review applications from larger, multifaceted organizations while dropping the application backlog.   

Further details regarding the form can be found in Revenue Procedure 2014-40. 

See New 1023-EZ Form Makes Applying for 501(c)(3) Tax-Exempt Status Easier; Most Charities Qualify, IRS, July 1, 2014. 

http://lawprofessors.typepad.com/trusts_estates_prof/2014/07/irs-introduces-new-1023-ez-form.html

Estate Planning - Generally, Gift Tax, Income Tax, New Legislation | Permalink

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