1023 Ez 2014-2025 Form

What is the 1023 Ez

The 1023 Ez is a streamlined application form used by organizations seeking tax-exempt status under section 501(c)(3) of the Internal Revenue Code. This form simplifies the process for small nonprofits, allowing them to apply for recognition as a tax-exempt entity without the extensive documentation required by the standard Form 1023. The 1023 Ez is designed for organizations with projected annual gross receipts of less than $50,000 and total assets under $250,000. By using this form, eligible organizations can expedite their application process and gain access to various tax benefits.

How to use the 1023 Ez

Using the 1023 Ez involves several straightforward steps. First, ensure your organization meets the eligibility criteria, including size and purpose. Next, gather all necessary information, such as your organization’s name, address, and details about its structure and activities. The form requires you to provide a narrative description of your organization’s mission and programs. Once completed, you can submit the form electronically through the IRS website or by mail. It is crucial to ensure that all information is accurate and complete to avoid delays in processing.

Steps to complete the 1023 Ez

Completing the 1023 Ez involves a series of clear steps:

• Verify eligibility by checking the criteria for using the 1023 Ez.
• Gather required documents, including your organization’s governing documents and financial information.
• Fill out the form accurately, providing all necessary information about your organization.
• Review the completed form for accuracy and completeness.
• Submit the form electronically or by mail, ensuring you keep a copy for your records.

Legal use of the 1023 Ez

The legal use of the 1023 Ez is essential for organizations seeking tax-exempt status. This form must be completed in accordance with IRS guidelines to ensure that the application is valid. Organizations must operate exclusively for exempt purposes, such as charitable, educational, or religious activities. Failure to comply with these legal requirements can result in denial of the application or revocation of tax-exempt status. It is advisable to consult legal counsel or a tax professional if there are any uncertainties regarding compliance.

Eligibility Criteria

To qualify for the 1023 Ez, organizations must meet specific eligibility criteria. These include:

• Projected annual gross receipts of less than $50,000 in the next three years.
• Total assets not exceeding $250,000.
• Operating exclusively for charitable, educational, or religious purposes.
• Not a private foundation.

Organizations must also ensure that their activities align with the requirements set forth by the IRS to maintain compliance and secure tax-exempt status.

Required Documents

When completing the 1023 Ez, several documents are required to support your application. These typically include:

• Governing documents, such as articles of incorporation or bylaws.
• A detailed narrative of your organization’s activities and programs.
• Financial statements or budgets for the upcoming years.
• Information about your organization’s board members and officers.

Having these documents ready will facilitate a smoother application process and help ensure that your submission is complete.