By James Pieper
The Internal Revenue Service (IRS) has adopted a new, shorter online form for small charitable organizations seeking nonprofit status.
The Form 1023-EZ reduces the existing 26-page form to three pages for qualifying groups. Organizations with gross receipts of $50,000 or less and assets of $250,000 or less will be able to use the streamlined process.
In a media release, IRS Commissioner John Koskinen stated: “This is a common-sense approach that will help reduce lengthy processing delays for small tax-exempt groups and ultimately larger organizations as well. The change cuts paperwork for these charitable groups and speeds application processing so they can focus on their important work.”
The new form can only be completed online and will help the IRS clear its backlog of more than 60,000 pending nonprofit applications.
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