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Los Angeles California Form Instructions 1023-EZ: What You Should Know
File Your California Nonprofit Income Tax Return STEP 1: File IRS Return with Corrected Status Report First and foremost, you need to determine your correct status on the return. You will use IRS Status Code: 983-X. If the IRS returns have been filed with your correct status code, you will not need to file a new return, and will get your tax refunds. If you filed a correct IRS Form 990, Form 990-EZ, or your return does not have a correct form number, you do not need to file a correction for the correction fee is 100. However, it is always best practice to file a return if there is a significant error on your return. To locate your correct IRS status code, you should use IRS.gov. You will need to enter the Code in box 2, “Status Code”. You should only enter one code per line. If you have filed a Form 990-EZ, please use it for your tax return. Step 2: File Schedule CP1 Complete Schedule CP1. Fill out Schedule CP1 to determine your taxable income, which would be your gross income for all years during the 12 months or portion thereof that you were under 501(c) status. For purposes of determining your taxable income for the 12 months, we will use the period the IRS considered your return to be filed. If you were under 501(c) status for the 12-month period to July 21, 2016, complete Schedule CP1. If you were under 501(c) status for the period to July 22, 2017, complete Schedule CP1. If you were under 501(c) status for part you or the entire 12-month period to July 26, 2016, do not complete Schedule CP1. That return should be filed separately. If you were under 501(c) status for part of the period January 2024 – July 21, 2017, do not complete Schedule CP1. That return should be filed separately. Fill out Schedule CP1. If you were not under 501(c) for part of the period July 22, 2017, to July 26, 2016, do not complete Schedule CP1. That return should be filed separately. Fill out Schedule CP1. Complete Schedule CP1. You cannot exceed 10% of your adjusted gross income for any tax year.
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