Interactive Form 1023 Update
The IRS's Exempt Organizations (EO) office has updated its alternate version of Form 1023, Application for Recognition of Exemption. The application, which incorporates changes suggested by the public, became available at the end of December and includes information about the current user fee.
The Interactive Form 1023 (i1023) features pop-up information boxes for most lines of the form. These boxes contain explanations and links to related information on IRS.gov and StayExempt.irs.gov, EO's educational website. Once completed, applicants will print and mail the form and its attachments, just like the standard Form 1023.
Please send your comments about this form to tege.eo.ceo@irs.gov.
Anticipated i1023 benefits:
The i1023 is based on recommendations by the IRS's external Advisory Committee on Tax-Exempt and Government Entities (ACT).
Reported directly from the January 13, 2014 issue of EO Update: e-News for Charities and Nonprofits. For more information, visit www.irs.gov.
New Options for Automatically Revoked Organizations to Apply for Reinstatement
Organizations that have had their tax-exempt status automatically revoked for not filing required 990 series returns may apply for reinstatement.
Revenue Procedure 2014-11 provides four options for applying for reinstatement and explains how the new procedures apply to pending and recently approved applications. Revenue Procedure 2014-11 modifies and supersedes the procedures described in Notice 2011-44.
Also see: Automatic Revocation -- How to have your tax-exempt status retroactively reinstated.
Reported directly from the January 3, 2014 issue of EO Update: eNews for Charities and Nonprofits. Links all posted on www.irs.gov.
IRS Issues New Interim Guidance for Supporting Organizations and Grantors
IRS Notice 2014-4 provides further interim guidance for §509(a)(3) supporting organizations and their grantors about the application of certain requirements enacted as part of the Pension Protection Act of 2006. The notice provides transitional rules for Type III supporting organizations that want to qualify as "functionally integrated" because they support governmental entities.
The notice also provides additional interim guidance for private foundations and sponsoring organizations that maintain donor-advised funds on the procedures to be followed in determining whether a potential grantee is a Type I, Type II, or functionally integrated Type III supporting organization.
Reported directly from the December 21, 2013 issue of EO Update: e-News for Charities and Nonprofits. For more information, visit www.irs.gov.