1023 Ez 2018-2025 Form

Understanding Form 1023 EZ

The Form 1023 EZ is a streamlined application for organizations seeking tax-exempt status under Section 501(c)(3) of the Internal Revenue Code. This form is designed for smaller organizations that meet specific eligibility criteria, allowing them to apply for federal tax exemption without the extensive documentation required by the standard Form 1023. By using Form 1023 EZ, organizations can save time and resources while ensuring compliance with IRS regulations.

Eligibility Criteria for Form 1023 EZ

To qualify for the Form 1023 EZ, organizations must meet several key criteria:

• The organization must be a domestic entity, formed in the United States.
• It must have gross receipts of less than $50,000 in the past three years, or projected gross receipts of less than $50,000 in the next three years.
• The total assets of the organization must be valued at less than $250,000.
• The organization must not be a private foundation or a supporting organization.
• It must operate exclusively for exempt purposes, such as charitable, religious, educational, or scientific activities.

Steps to Complete Form 1023 EZ

Completing the Form 1023 EZ involves several straightforward steps:

1. Gather necessary information about your organization, including its mission, structure, and financial data.
2. Access the Form 1023 EZ online through the IRS website or download the form for offline completion.
3. Fill out the form, ensuring all required fields are completed accurately.
4. Review the form for any errors or omissions before submission.
5. Submit the completed form electronically through the IRS online portal or by mail, depending on your preference.

Required Documents for Form 1023 EZ

When submitting Form 1023 EZ, organizations must include specific documentation to support their application:

• A copy of the organizing documents, such as articles of incorporation or bylaws.
• A statement of the organization's purpose and activities.
• Financial statements, including a budget for the current year and a projection for the next two years.
• Any additional information that demonstrates the organization’s eligibility for tax-exempt status.

Form Submission Methods

Organizations can submit Form 1023 EZ through various methods:

• Online Submission: The preferred method is to submit the form electronically via the IRS website. This method is quicker and allows for immediate confirmation of receipt.
• Mail Submission: Alternatively, organizations can print the completed form and mail it to the appropriate IRS address. This method may take longer for processing.

IRS Guidelines for Form 1023 EZ

The IRS provides specific guidelines to assist organizations in completing Form 1023 EZ. It is essential to review these guidelines to ensure compliance with all requirements. The guidelines outline the eligibility criteria, required documentation, and detailed instructions for filling out the form. Organizations should also be aware of any updates or changes to the form or the application process by regularly checking the IRS website.