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IRS to revise 1023-EZ form

IRS to revise 1023-EZ form

IRS to revise 1023-EZ form

The IRS will revise the charitable tax exemption application for small organizations, according to a report in the Bloomberg BNA Daily Tax Report . It will add questions to the Form 1023-EZ on gross receipts and asset values to ascertain whether the organization meets the qualifications for filing — having and expecting income of less than $50,000 a year for the first three years and having assets of less than $250,000. It will also add a field to report the mission and significant activities of the organization. The report also said the form will also ask the organization whether it is a church, school or hospital, three types of organizations that may not file the EZ application. The form...

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