How long does it take for Form 1023 to be approved?

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 you file 1023 online?

Beginning January 31, 2020, applications for recognition of exemption on Form 1023 must be submitted electronically online at Pay.gov. The IRS will provide a 90-day grace period during which it will continue to accept paper versions of Form 1023 (Rev. 12-2017).

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 a 1023 form used for?

More In Forms and Instructions Organizations must electronically file this form to apply for recognition of exemption from federal income tax under section 501(c)(3). Note. You may be eligible to file Form 1023-EZ, a streamlined version of the application for recognition of tax exemption.

How much does it cost to file a Form 1023?

The user fee for Form 1023 is $600. The user fee for Form 1023-EZ is $275. The user fees must be paid through Pay.gov when the application is filed.

Who qualifies for 1023-EZ?

Basic Eligibility Requirements for the 1023-EZ

• gross income under $50,000 in the past 3 years.
• estimated gross income less than $50,00 for the next 3 years.
• fair market assets under $250,000.
• formed in the United States.
• mailing address in the United States.

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

Who Must File 1023?

Organizations that are organized and operated exclusively for religious, charitable, scientific, public safety, literary, or educational purposes, as well as organizations that foster national or international amateur sports competitions, or that prevent cruelty to children/animals can file Form 1023.

How much does Form 1023 cost to file?

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

Form 1023 calls for more detailed information. Form 1023-EZ does not require nearly the amount of information as Form 1023 does and also costs much less. You can file for tax-exempt status at a much lower cost of $275 using Form 1023-EZ. The form is three pages long and online based.

How much does it cost to file a 1023-EZ form?

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