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 1023 Ez 2018

1023 Ez 2018-2025 Form

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What is the 1023 EZ

The 1023 EZ is a streamlined version of the standard Form 1023, designed for small organizations seeking tax-exempt status under section 501(c)(3) of the Internal Revenue Code. This form simplifies the application process for eligible nonprofits by reducing the complexity and length of the required documentation. Organizations that qualify for the 1023 EZ can benefit from a faster approval process, allowing them to focus on their mission rather than navigating extensive paperwork.

Eligibility Criteria

To qualify for the 1023 EZ, an organization must meet specific criteria set by the IRS. These criteria include:

  • The organization must be a nonprofit entity, formed as a corporation, unincorporated association, or trust.
  • The organization must have gross receipts of $50,000 or less in the previous three years or project to have gross receipts of $50,000 or less in the next three years.
  • The organization must have total assets of $250,000 or less.
  • The organization must not be a church, school, or hospital, as these entities have separate application processes.

Meeting these criteria is essential for organizations to utilize the 1023 EZ and expedite their application for tax-exempt status.

Steps to Complete the 1023 EZ

Completing the 1023 EZ involves several steps to ensure that all required information is accurately provided. Here’s a general outline of the process:

  1. Gather necessary information about the organization, including its mission, activities, and financial data.
  2. Access the 1023 EZ form through the IRS website and ensure you are using the most current version.
  3. Carefully fill out the form, ensuring that all required fields are completed and that no information is omitted.
  4. Review the form for accuracy and completeness before submission.
  5. Submit the completed form electronically through the IRS online submission system or by mail, depending on your preference.

Following these steps can help facilitate a smooth application process for tax-exempt status.

Required Documents

When applying with the 1023 EZ, certain documents must be included to support the application. These documents typically include:

  • Articles of incorporation or organization, which outline the nonprofit's structure.
  • Bylaws that govern the organization’s operations.
  • A statement of the organization’s mission and activities.
  • Financial statements or a budget projection for the next three years.

Providing these documents helps establish the organization’s legitimacy and compliance with IRS requirements.

Form Submission Methods

Organizations can submit the 1023 EZ form using various methods, depending on their preference and available resources. The primary submission methods include:

  • Online Submission: Organizations can file the form electronically through the IRS online portal, which is often the quickest method.
  • Mail Submission: Alternatively, organizations may choose to print the completed form and mail it to the appropriate IRS address.

Choosing the right submission method is important for ensuring timely processing of the application.

IRS Guidelines

The IRS provides specific guidelines for completing and submitting the 1023 EZ. These guidelines include detailed instructions on what information is required, how to fill out each section, and the importance of accurate reporting. Organizations should carefully review the IRS instructions to avoid common pitfalls that could delay their application. Adhering to these guidelines ensures compliance and increases the likelihood of a successful application for tax-exempt status.

Quick guide on how to complete 1023 section code

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