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Form1023EZStreamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code(Rev. January 2018)OMB No. 15450056 Note: If exempt status is approved, this application

How to fill out 1023-ez streamlined application for

How to fill out 1023-ez streamlined application for

1. Step 1: Gather all the necessary information and documents required to complete Form 1023-EZ. This may include the organization's legal name, employer identification number (EIN), purpose and activities, financial information, and any relevant supporting documents.
2. Step 2: Access the official IRS website or use a reliable tax software to download Form 1023-EZ. Ensure that you have the most up-to-date version of the form.
3. Step 3: Read through the instructions carefully to understand the requirements and eligibility criteria for using Form 1023-EZ.
4. Step 4: Begin filling out the form by providing basic information about the organization, including its legal name, address, and EIN.
5. Step 5: Answer the eligibility questions and check the appropriate boxes based on your organization's nature and purpose.
6. Step 6: Provide a detailed description of the organization's purpose and activities. Include information about any potential lobbying or political activities, if applicable.
7. Step 7: Complete the financial information section, which includes details about the organization's assets, income, and expenses. Attach any relevant financial documents as required.
8. Step 8: Review the completed form and ensure all necessary information has been provided. Make any necessary corrections or additions.
9. Step 9: Sign and date the form, certifying that the information provided is true and accurate to the best of your knowledge.
10. Step 10: Submit the completed Form 1023-EZ to the IRS along with any required supporting documents and the applicable fee.

Who needs 1023-ez streamlined application for?

1. Nonprofit organizations with gross receipts of $50,000 or less per year and total assets of $250,000 or less are eligible to use Form 1023-EZ.
2. Eligible organizations may include charitable, religious, educational, scientific, literary, testing for public safety, fostering national or international amateur sports competition, or prevention of cruelty to animals or children organizations.
3. It is important to note that some organizations, such as churches, integrated auxiliaries of churches, and certain governmental entities, are not required to file Form 1023 or Form 1023-EZ to be tax-exempt.
4. To determine if your organization is eligible to use Form 1023-EZ, refer to the instructions provided by the IRS or consult with a qualified tax professional.

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What is 1023-ez streamlined application for?

The 1023-EZ streamlined application is a simplified form used by small organizations to apply for tax-exempt status under section 501(c)(3) of the Internal Revenue Code.

Who is required to file 1023-ez streamlined application for?

Organizations with projected annual revenues of $50,000 or less and total assets not exceeding $250,000 are required to file the 1023-EZ streamlined application.

How to fill out 1023-ez streamlined application for?

To fill out the 1023-EZ streamlined application, applicants must complete the online form available on the IRS website, providing required information regarding their organization, including structure, purpose, and activities.

What is the purpose of 1023-ez streamlined application for?

The purpose of the 1023-EZ streamlined application is to simplify the process of obtaining 501(c)(3) tax-exempt status for eligible organizations, enabling them to operate and receive charitable donations.

What information must be reported on 1023-ez streamlined application for?

The information that must be reported includes the organization's name, address, purpose, activities, governance structure, and financial projections.