On June 27, 2014, the IRS released a new form – Form 1023EZ — which will simplify and streamline the 501(c)(3) application process for small nonprofits without complex issues. This article covers the benefits of the new form and explains which nonprofits may take advantage of it.
In this useful resource, Metcalf Davis CPAs have added notes to a standard Form 990 to help nonprofit board members and officers review the form and understand the significance of various provisions.
Organizations with a fiscal year end of December 31 must file a 2012 Form 990, Form 990-EZ or Form 990-N (or an extension) by May 15, 2013. You might notice that the IRS revised the 2012 version of the forms and the accompanying schedules. A summary of those changes can be found here. The summary includes IRS reminders such as:
• Organizations should not include social security numbers on Form 990 because it is publicly available.
• Organizations are no longer required to list addresses for officers, directors or employees.
• If an organization accepts a contribution in the name of one of its programs, its donor acknowledgment should indicate the organization’s name.
For helpful resources from the IRS regarding the Form 990, click here.
Start-up nonprofits should note that they should begin filing annual Form 990s as soon as they are incorporated, even if they have not yet received 501(c)(3) tax-exempt status from the IRS.
Please note that Pro Bono Partnership of Atlanta is unable to assist with Form 990 filings.
Some counties and cities in Georgia require nonprofits to register for a business license. Find out more about what is required.
Once you have established a 501(c)(3) nonprofit, your paperwork has just begun! Federal, state and some local governments require that you file additional forms; some filings are one-time-only and others are required on a regular basis. This guide will help you determine whether you are up to date on all those forms.
Form 1023 is the form used to apply for recognition of tax-exempt status under Section 501(c)(3) of the Internal Revenue Code.