Exemption Status to get easier for some?

Exemption Status to get easier for some?

News story posted in Information Release on 21 April 2014| comments
audience: National Publication | last updated: 28 April 2014

The IRS has released a draft of a simplified application for tax exempt status under 501(c)(3), form 1023-EZ. Merely two pages long, it will only be allowed for charities with revenue less than $200,000 and will not be allowed for religious institutions, hospitals, colleges, supporting organizations or organizations with Donor Advised Funds. Still, it may provide the rigorous twenty-five page application for many organizations.

Since the publication of the last issue, the IRS has updated the sample 1023-EZ to this newer version.

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