Image courtesy of user stevepb on pixabay.com

Image courtesy of user stevepb on pixabay.com

Form 1023-EZ is a new IRS form used by some not-for-profits to apply for tax-exempt status as a 501(c)(3) organization. The form is a simplified version of the Form 1023.

Who Can Use Form 1023-EZ

There’s a checklist on pages 11-17 of the instructions to Form 1023-EZ that explain which organizations are eligible to use the simplified form.

In general, organizations whose revenue is less than $50,000 and whose assets are less than $250,000 can use the 1023-EZ. (WARNING: there are other requirements; refer to the checklist linked to in the paragraph above.)

Benefits of Form 1023-EZ

  • Only 3 pages long. Compare this to the full-blown Form 1023, which is 26 pages long and features dozens upon dozens of questions to answer.
  • Filed electronically – no bulky mailing to send off to the IRS