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Joliet Illinois online Form Instructions 1023-EZ: What You Should Know

The IRS does not require any identifying documents to be on file for organizations wishing to file using the simplified method. If no identifying documents are available and the organization meets all the basic requirements, they are required to file Form 1023-EZ. If no identifying documents are available, but the group meets all the basic guidelines, they are still required to file form 1023. This means that if you believe a group is seeking exemption from federal income tax, simply request an EIN as the form 1023 may not be required and the IRS may accept as valid identification. Please note that only certain types or categories of organizations that are exempt from federal income tax under section 501(c)(3) are required to file Form 1023 under section 468 of the Internal Revenue Code. However, as discussed below, many groups within these categories are also eligible for Form 1023-EZ.  Form 1023-EZ and IRS Form 3903 (aka “Form 3903-G”) are two unique methods of exempting a qualified group of persons from federal income tax. These two tax avoidance methods are separate and distinct, but may be applied at the same time. The IRS will require you to file Form 3903-G if: you own 100 or more qualified property or have income from 5,000 to 50,000 per year; you are engaged in trading, investing, or doing business in a state in which they tax income; you trade in securities that are held in a registered account. Form 3902 provides an alternative to these requirements for qualified property owned or taxed by you that would otherwise require a Form 1023-G but, may provide a quicker, easier, and more cost-effective filing alternative for certain organizations or groups that own qualified property or are taxed in a state in which they are exempt from federal income tax.

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