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Form 1023 Application for Recognition of Exemption (Rev September 1998) Department of the Treasury Internal Revenue Service Under Section 501(c)(3) of the Internal Revenue Code OMB No. 15450056 Note:

How to fill out form 1023 application for

How to fill out Form 1023 application for:

1. Gather all necessary information and documents: Before starting the application, make sure you have all the required information and supporting documents ready. This includes details about your organization's purpose, activities, finances, and any relevant attachments such as articles of incorporation and bylaws.
2. Complete Part I of Form 1023: In Part I, you will provide general information about your organization, such as its legal name, mailing address, and employer identification number (EIN). Additionally, you will need to indicate the type of organization you are (e.g., religious, educational, charitable), and provide a brief description of your activities and purpose.
3. Fill out Part II of Form 1023: Part II focuses on your organization's specific activities and programs. Provide detailed information about the services your organization offers, the target beneficiaries, and how you carry out these activities. Additionally, you will need to answer questions regarding compensation of officers, members, and employees, as well as any political activities or lobbying efforts.
4. Complete the Financial Data section in Part III: In this section, you will provide financial information about your organization, including details about your revenue, expenses, assets, and liabilities. Be prepared to provide specific figures and supporting documentation. If your organization has not yet started its operations, you will need to provide projected financial information.
5. Answer the questions in Part IV: This section contains various questions related to your organization's structure, governance, and compliance with certain regulations. Answer each question honestly and accurately, ensuring all required information is provided. Pay special attention to questions requiring explanations or additional details.
6. Attach required schedules and additional documents: Depending on your organization's activities and financial situation, you may need to attach certain schedules and documents to support your application. These attachments could include your articles of incorporation, bylaws, financial statements, and any other relevant documentation requested by the IRS.

Who needs form 1023 application for:

1. Nonprofit organizations seeking tax-exempt status: Form 1023 is specifically for nonprofit organizations that are seeking recognition of their tax-exempt status under section 501(c)(3) of the Internal Revenue Code. This includes organizations engaged in charitable, religious, educational, scientific, literary, and certain other activities.
2. Organizations with significant annual gross receipts: If your organization expects to have annual gross receipts averaging more than $5,000, you generally need to submit Form 1023 to apply for tax-exempt status and receive a determination letter from the IRS.
3. Organizations wishing to provide donors with tax-deductible contributions: By obtaining tax-exempt status through Form 1023, your organization can provide donors with the opportunity to make tax-deductible contributions, potentially increasing fundraising opportunities and attracting more support.

Note: It is important to consult with a tax professional or legal advisor to ensure compliance with all applicable laws and regulations when completing Form 1023 application.

For pdfFiller’s FAQs

What is form 1023 application for?

Form 1023 application is for organizations seeking tax-exempt status under section 501(c)(3) of the Internal Revenue Code.

Who is required to file form 1023 application for?

Nonprofit organizations looking to obtain tax-exempt status under section 501(c)(3) must file form 1023 application.

How to fill out form 1023 application for?

Form 1023 application can be filled out online or by mail by providing information about the organization's activities, governance, and financial information.

What is the purpose of form 1023 application for?

The purpose of form 1023 application is to apply for recognition of tax-exempt status under section 501(c)(3) of the Internal Revenue Code.

What information must be reported on form 1023 application for?

Information about the organization's activities, governance structure, and financial details must be reported on form 1023 application.

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