IRS Form 1023-EZ Will Now Ask About An Organization’s Mission

Posted on Jan 8, 2018 in State Registration

IRS Form 1023-EZ Will Now Ask About An Organization’s Mission

The IRS Form 1023-EZ, Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code now requires a little more information than it had previously. The IRS 1023-EZ now asks the organization to either describe their mission or to describe their most significant activities that they have conducted. The IRS Form 1023-EZ is still far shorted than traditional IRS Form 1023 and is far easier and quicker way for an organization to be granted 501(c)(3) than by filing the full IRS Form 1023. The IRS Form 1023-EZ was created in 2014 to allow U.S. organizations with assets of no more than $250,000 and annual gross receipts of no more than $50,000 to have a simpler path to becoming 501(c)(3)s. In addition, to being a simpler form that the organization fills out, the fees that need to accompany the form are considerably less than the fee that must accompany the traditional IRS Form 1023 and those applying for 501(c)(3) status with the IRS Form 1023-EZ also have a much shorter wait for approval than those filing with the traditional IRS Form 1023, which often can take sever months to be approved.