IRS Issues Exempt Status Determination Procedure

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On January 12, the IRS issued Revenue Procedure 2015-9 (See establishing the procedures the IRS will follow in issuing, revoking, and modifying exempt status determination letters for 2015. It supersedes Revenue Procedure 2014-9.

Pursuant to Revenue Procedure 2015-5, the IRS has also created a Form 1023-EZ “Streamlined Application for Recognition of Exemption under Section 501(c)(3)” (See To be eligible to complete this streamlined form you must have had annual gross receipts below $50,000 in any of the past three years and project that your annual gross receipts will not exceed $50,000 in any of …read more

Read more here:: Nonprofit


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