Good news for small organizations seeking tax exempt status! The IRS recently released a draft version of a new and user-friendly Form 1023-EZ and according to the IRS, most small organizations seeking tax-exempt status will be eligible* to use this new Form 1023-EZ.
This form is shorter and less complex than the original Form 1023. The purpose of this new streamlined process is to assist charities with getting started more quickly without all the paperwork that could delay approval of their filings for up to a year.
The IRS will be accepting comments about the draft and final forms through April 30th. The final version of the Form 1023-EZ is expected to be in use by all eligible organizations sometime this summer.
*Assuming the organization meets the eligibility requirements on Form 1023-EZ – Eligibility Worksheet.