Monday, August 11, 2014

New Simplified IRS Tax-Exempt Process for Disqualified Chapters

Form 1023 EZ Revised June 2014
Easy form for less than $50K in gross receipts
Any HLAA chapter whose tax-exempt status has been recently disqualified can now use a new streamlined process with form 1023-EZ, which will save a lot of time and hassle. This can be especially helpful for any HLAA chapter that has lost their tax-exempt status due to failure to file their 990-N.  Rather than filing the extremely complicated Form 1023, qualifying smaller organizations can now file the new Form 1023-EZ to reapply for tax-exempt status.

In June, the IRS established a simplified procedure for applying for tax-exempt status. Certain smaller organizations (generally, organizations with less than 50K in gross receipts for the year and less than 250K in total assets) can use the new simplified process to apply for tax-exempt status.
1023 EZ Form
The paperless 1023-EZ must be filed online 

The new 1023-EZ form and instructions can be found at irs.gov.  The new Form 1023-EZ must be filed electronically (no paper version), and there may be a related electronic filing fee as well as the required application fee.



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