7.23.2014

Wanna Be a Small Non-profit? Perfect, Here's The New 3-Page Form 1023-EZ Application

Recently, the IRS announced a new Form 1023-EZ application to reduce processing delays and allow for small charities to apply for 501(c)(3) tax-exempt status with more ease.

The reasons for the changes stem from the IRS’s attempt to speed up the approval process for smaller groups in response from public criticism.  Speeding up the process will also allow them to reduce application backlogs and focus more resources in reviewing applications from larger, more complex organizations.  In addition they have taken into account the concerns of small nonprofits by reducing the filing threshold from $200,000 in gross receipts to $50,000 in gross receipts. 

The new version is only 3 pages long compared with the standard 26-page Form 1023. As a result, most small organizations, defined as those with gross receipts of $50,000 or less and assets of $250,000 or less, will qualify to use this new shorter form.

Note: 
  • The new EZ form must be filed online. 
  • The instructions include an eligibility checklist that organizations must complete before filing the form.
  • The Form 1023-EZ must be filed using www.pay.gov.
  • A $400 user fee is due at the time the form is submitted. 
  • Further details on the new Form 1023-EZ application process can be found in Revenue Procedure 2014-40.







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