Who is eligible for a 1023-EZ?

Only organizations that anticipate gross receipts to be at or below $50,000 annually are eligible. There are many other qualifications and any organization that wishes to file the Form 1023-EZ must complete the eligibility worksheet before submitting the form online.

How long does 501c3 EZ take?

about 2-4 weeks
The average processing time for Form 1023-EZ is about 2-4 weeks. By contrast, Form 1023 can take between 3 and 6 months for processing, and it could take up to a year.

Can a private foundation Use Form 1023-EZ?

Not all startup nonprofit organizations qualify to use Form 1023-EZ. The IRS has established strict limitations as to both the size and purpose of nonprofits that can use this streamlined process. While many new organizations will qualify for this faster path, many will not.

How much does it cost to file Form 1023-EZ?

The user fee for Form 1023-EZ is $275. The user fees must be paid through Pay.gov when the application is filed.

What is the difference between a 1023 and 1023-EZ?

Form 1023 is the application filed with the IRS in order to request exempt status under Section 501(c)(3). A new Form 1023-EZ was released in July 2014 to help smaller organizations seeking exempt status. Form 1023 is subject to Federal public disclosure laws.

How do you know if you qualify for 1023-EZ?

Who Qualifies to File the Form 1023-EZ

• Projected annual gross receipts must not exceed $50,000 in any of the next 3 years.
• Actual annual gross receipts must not have exceeded $50,000 in any of the past 3 years.
• Total assets must not exceed $250,000.

Is it hard to get a 501c3?

To obtain 501(c)(3) status, a nonprofit corporation must apply to the Internal Revenue Service for recognition of tax exemption by filing IRS Form 1023. Relatively speaking, forming the corporation is fairly straightforward (assuming that one completely understands the process).

How much does it cost to set up a 501c3?

First, there is the required IRS Form 1023 User Fee, which is now $600 (as of March, 2018) regardless of your organization’s projected future income. This application fee is made online as part of your application to the United States Treasury and submitted as part of your 501c3 application packet.

What is the difference between IRS Form 1023 and 1023-EZ?

The 1023-EZ is a shorter and simpler form than the long-form application, but only small nonprofits that meet the IRS requirements can use it. If your organization is not eligible to use the 1023-EZ, you will likely have to use the regular Form 1023 to obtain tax-exempt status.

What is the fastest way to get a 501c3?

If your organization needs expedited service, follow the appropriate procedure and ask the IRS to speed up the process. Complete and submit an Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code (Form 1023) to apply for 501(c)(3) tax-exempt recognition for your organization.

What happens if I use Form 1023-EZ and bring in more than $50000?

The simple answer to your direct question is “No.” There is no indication that the IRS would require a full Form 1023 filing if your income exceeds $50,000 in any of the three years. In either case, your organization will be on the IRS radar, and it could lose its exempt status entirely.

What is required to file a 501c3?

A 501c3 is an Internal Revenue Service code meaning an organization is a non-profit and is therefore tax exempt. To qualify, an organization must be religious, charitable, scientific, educational, amateur sports or the prevention of cruelty to children or animals. Organizations must file Form 1023 to obtain 501c3 status.

What are the fees to file Form 1023?

First, there is the required IRS Form 1023 User Fee, which is now $600 ( as of March, 2018) regardless of your organization’s projected future income. This application fee is made online as part of your application to the United States Treasury and submitted as part of your 501c3 application packet.

How to complete a 501c3 application?

The way to fill out the 501c3 application form on the internet: To begin the document, use the Fill & Sign Online button or tick the preview image of the form. The advanced tools of the editor will lead you through the editable PDF template. Enter your official contact and identification details. Apply a check mark to indicate the answer wherever demanded.

Where to file Form 1023?

To successfully file Form 1023, you must mail the completed form, along with any other required information and user fees, to: Internal Revenue Service. P.O. Box 192. Covington, KY 41012. With express mail or delivery services, you can send it to: Internal Revenue Service. 201 West Rivercenter Blvd.