Applying for tax-exempt status with the IRS? To help you meet the requirements, use Form 1023-EZ to streamline the process or complete Form 1023, including providing financial data and past, present, and planned activities. Don’t forget to pay the user fee through Pay.gov!
What is Form 1023?
Form 1023 is the application for tax-exempt status under section 501(c)(3) of the Internal Revenue Code. It requires the organization to answer a series of questions and provide information about its past, present, and planned activities in order to demonstrate they meet the requirements for exemption. Financial data should be consistent with other information provided and must be reported in U.S. dollars. The application and attachments must be prepared in English, and any user fee must be paid through Pay.gov. An eligible organization may file Form 1023-EZ, a streamlined version of Form 1023. Organizations who have had their tax-exempt status revoked may apply for reinstatement using Form 1023. Expedited review of an application may be requested for certain circumstances.
IRS Form 1023 – Who Needs to Fill It Out?
The IRS Form 1023 is for organizations that hope to receive tax-exempt status under section 501(c)(3). To fill it out, you need to provide a Social Security number, answer a series of questions promptly, and include financial data and a description of the organization’s past, present, and planned activities. It can be filed in either English, with financial information reported in US dollars, or with an English translation attached for any other language. You may be eligible to file Form 1023-EZ, a streamlined version of the 1023, if applicable. To request an expedited review, you must include a compelling reason. Finally, the fee associated with Form 1023 must be paid through Pay.gov.
Step-by-Step: Form 1023 Instructions For Filling Out the Document
Filling out Form 1023 can seem intimidating, but with these step-by-step instructions it’s possible to apply for tax-exempt status under Section 501(c)(3) confidently. The form requires you to input information such Social Security numbers – but do not put Social Security numbers on the form or any attachments. Throughout the instructions and the form, the terms “you” and “your” refer to the organization applying for tax-exempt status, and “us” and “we” refer to the IRS. Terms in bold type in the form are defined throughout the instructions and in Appendix C. You should answer questions on the form and provide information to demonstrate if you meet the requirements of Section 501(c)(3). Prepare the form and attachments in English, and provide financial information in U.S. dollars. Additionally, recognize that you will need to pay a user fee in order to file the form. For more information, consider looking into Form 1023-EZ, which is a streamlined version of Form 1023.
Below, we present a table that will help you understand how to fill out Form 1023.
| Information Required for Form 1023 | Details |
|---|---|
| Filling out Form 1023 | Step-by-step instructions for applying for tax-exempt status under Section 501(c)(3) |
| Social Security Numbers | Do not include Social Security numbers on the form or any attachments |
| Usage of “You” and “Your” | “You” and “Your” refer to the organization applying for tax-exempt status; “Us” and “We” refer to the IRS |
| Terms in Bold | Terms in bold type are defined throughout the instructions and in Appendix C |
| Language and Currency | Prepare the form and attachments in English, and provide financial information in U.S. dollars |
| User Fee | Payment of a user fee is required to file the form |
| Alternative Form | Consider Form 1023-EZ, a streamlined version of Form 1023 |
Do You Need to File Form 1023 Each Year?
Form 1023 is used to apply for tax-exempt status under section 501(c)(3) of the Internal Revenue Code. Upon approval, a determination letter will be issued that outlines the organization’s tax-exempt status as well as any necessary filing requirements. Depending on eligibility, organizations may be able to file Form 1023-EZ as an alternative. If your application is approved and your tax-exempt status is reinstated after being revoked, your filing requirements may be determined or renewed from the date of your reinstatement. A user fee is required for each application, and can be paid through Pay.gov. Expedited review may be available in certain high-priority circumstances.
Official IRS Form 1023
Revised Version To file Form 1023, you need to:
- Create an account on Pay.gov.
- Use the search function to locate “Form 1023” and select it.
- Fill out the form.
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