IRS Requires E-filing of Form 1023, Application for Tax Exemption Under Section 501(c)(3)

On January 31, 2020, Revenue Procedure 2020-08 (Procedure) was released by the Internal Revenue Service.  The Procedure requires the filing of Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, electronically at Pay.gov.  Historically, organizations requesting exemption could only paper-file Form 1023.  The Procedure provides transition relief for Form 1023 filings postmarked on or before 90 days after January 31, 2020.  The IRS anticipates the electronic filing of Form 1023 to improve the application processing time and provide for fewer errors.

The Procedure highlighted additional items as they relate to Form 1023 filings.  The application fee will be processed through Pay.gov when the application is submitted and will continue to be $600 for 2020.  Entities requesting expedited handling must do so by indicating on the form that expedited handling is requested, and a supporting written statement must be submitted as an attachment to the application.

Please contact Schneider Downs with any questions regarding this update or if you would like assistance with the preparation and filling of Form 1023 and its required attachments.

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Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice.

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