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IRS Introduces New Short Application Form for 501(c)(3) Tax Exemption

Faced with a backlog of applications and fewer resources to get them processed,the Internal Revenue Service is proposing a  drastically streamlined Form 1023-EZ for certain groups applying for 501(c)(3) tax-exempt status.The Form 1023-EZ would allow charities to avoid the longer Form 1023 if they have annual revenues of less than $200,000 and assets less than $500,000. Read more.