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IRS Slashes Application Fee for Small Exempt Organizations

(posted: May 31st, 2016)

Small organizations that want the IRS to recognize their tax-exempt status are getting a break.

The IRS announced that it is cutting the application fee small businesses must pay when applying for tax-exempt status.

The announcement reduces the fee from $400 to $275 for Form 1023-EZ, Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code. The change is effective July 1.

Form 1023-EZ is available for use by U.S. organizations with assets of $250,000 or less and annual gross receipts of $50,000 or less. The IRS recently reported that, in its first year of availability, 52% of applications for exempt status were made on Form 1023-EZ.

The IRS also announced, in its "Form 1023-EZ First Year Report," that it expects to make other changes to the form although, so far, no draft amendments have been posted on the IRS website.

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