The IRS released new Form 1023-EZ today. This new 3-page form will allow qualifying non-profit organizations that wish to seek tax-exempt status to file the new form online rather than filing the old, traditional paper form that is much longer and more detailed.
In order to qualify to use the new Form 1023-EZ, a non-profit organization must have annual gross receipts that do not exceed $50,000 and the value of its assets must not exceed $250,000.
Some of the more onerous questions in the old Form 1023 are not in the new Form 1023-EZ, including the detailed financial projections.
For small non-profits, the new Form 1023-EZ will certainly simplify the process of seeking tax-exempt status.