The IRS has created a new form to help small charitable organizations obtain 501(c)(3) tax-status. Instead of filing the 26-page Form 102, qualified organizations may use the IRS’ new form, 1023-EZ, to complete the application. An estimated 70 percent of organizations seeking tax-exempt status will qualify for the streamlined approach, if gross receipts are $50,000 or less and assets do not exceed $250,000. For more information, read the IRS Press Release.
Tax-Exempt Status just got Easier
On behalf of Law Office of Williams & Associates, P.C. | Jul 14, 2014 | IRS