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  • Form 1023-ez Rev June 2014 Internal Revenue Code 501c3 Streamline Application Form

Get Form 1023-ez Rev June 2014 Internal Revenue Code 501c3 Streamline Application Form

Version A, Cycle 4 Form 1023EZ Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code (Rev. June 2014) Department of the Treasury Internal Revenue.

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More In Forms and Instructions Organizations must electronically file this form to apply for recognition of exemption from federal income tax under section 501(c)(3). Note. You may be eligible to file Form 1023-EZ, a streamlined version of the application for recognition of tax exemption.

Although the exact amount varies from organization to organization, nonprofits are often advised to keep between 3 and 6 months of operating funds on hand as cash reserves, if possible. Funds that will be used in the longer-term are sometimes invested in less liquid, often higher-risk instruments.

Here is a brief overview of the major criteria your organization must meet for Form 1023-EZ: Your organization must have less than $250,000 in total assets. For the next three years, your gross receipts must total less than $50,000 annually. The NPO must be formed within the United States.

Types of Nonprofit Funds As we stated above, there is no limit to how much money a nonprofit can have in reserve. The key is in the organization's financial management, whether that means reinvesting the reserve back into the nonprofit's mission or ensuring financial security by saving money.

The main difference between these two forms is the complexity of the information required. Many find the 1023 form to be tedious and extensive but the IRS has had less trouble with those that file with this version as opposed to the 1023-EZ.

In either case, your organization will be on the IRS radar, and it could lose its exempt status entirely. Remember too, you are signing the application under penalty of perjury. If you have any expectation of more than $50,000 in revenue, you would be far wiser to file the full Form 1023 now.

Only organizations that anticipate gross receipts to be at or below $50,000 annually are eligible. There are many other qualifications and any organization that wishes to file the Form 1023-EZ must complete the eligibility worksheet before submitting the form online.

Is there an opportunity to file the full Form 1023 later? Answer: The decision whether to use the Form 1023-EZ instead of the full Form 1023 is a one-time choice, so it is important to choose wisely.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232