IRS Releases EZ Application for Charity Status

Wednesday, July 2, 2014

WASHINGTON, DC -- Against the wishes of several nonprofit associations and charity regulators, the Internal Revenue Service has introduced a short form for small organizations to file for tax-exempt status. Instead of having to file a 26-page application form, would-be nonprofits with gross revenue of $50,000 or less and assets of $250,000 or less are now eligible to file a three-page application. Some nonprofits, such as hospitals, colleges, and universities, would not be eligible to use the new form, called the 1023-EZ. About 70 percent of new applicants, the IRS predicts, will be eligible for the short form.

Find More By

News type