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Business Tax

IRS Reorganizes Form 1023 FAQs

Thomson Reuters Tax & Accounting  

Thomson Reuters Tax & Accounting  

The IRS has reorganized a series of FAQs regarding Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, in order to make it easier to see all the FAQ answers on one browser tab.

Background.

Unless an exception applies, an organization wishing to obtain tax-exempt status under Code Sec. 501(c)(3) must file a Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code. If the IRS accepts the application, the IRS will issue a determination letter recognizing the organization’s tax-exempt status. (Instructions to Form 1023)

FAQs.

The IRS has reorganized the structure of a series of FAQs regarding Form 1023. The reorganized structure makes it easier to see each FAQ answer on one browser tab. In the past, each time the reader clicked to see an answer, a new browser tab would open. The FAQs address the following topics:

  • General Information
  • Organizational Structure and Organizing Documents
  • Interactive Training
  • Activities
  • Compensation and Other Financial Arrangements with Officers, Directors, Trustees, Employees, and Independent Contractors
  • Financial Data
  • Foundation Classification
  • Signature Block and User Fee Information
  • Required Attachment to Form 1023
  • Processing Applications
  • Additional Information

To continue your research on establishing exempt status, see FTC 2d/FIN ¶T-10450.

 

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