New Form 1023: Federal Exemption Application and Its New Electronic Filing (OnDemand Webinar)

$199.00

SKU: 407746EAU

Description

Be prepared to file Form 1023 with the new electronic filing requirement.Charitable nonprofit organizations need to obtain recognition of their taxexempt status from the Internal Revenue Service. The IRS recently revised Form 1023, the federal exemption application, and the IRS now requires that this form to be filed electronically through Pay.gov. One needs to know what is required to complete Form 1023 and how to submit it electronically. Nonprofit directors, trustees and officers and their tax advisors need to successfully navigate this critical submission. This topic will address practical suggestions for gathering information needed for completing this form and how to craft responses that address the questions posed. It introduces selected questions on the new form, how to locate guidance on substantive questions and resources to resolve technical obstacles that might arise. With these tools, tax professionals and the nonprofit leaders will be better equipped to prepare and file the new Form 1023.

Date: 2020-05-28 Start Time: End Time:

Learning Objectives

Overview: Electronic Filing and New Form
• Question Completion Requirement
• Pay.gov Features

Selected Questions to Be Examined
• NTEE; Officers, Directors, Trustees, Highest Compensated Employees; Compensation and Non-Fixed Compensation; Purchase and Sale of Goods, Services or Assets
• Grants and Loans to Non-Charitable Organizations and Foreign Organizations; Operations/Activities in Foreign Countries
• Joint Ventures

Technical Matters
• Attachments to Form 1023
• Rev. Proc. 2020-8 and Transition
• Electronic Signatures on Form 1023; Payment of User Fees; Pay.gov Accounts
• Resolving Technical Difficulties

Resources
• Pay.gov Form and Instructions
• Video Tutorials and Overview of Form 1023 E-Filing
• EO Specialist Sample Questions

Louis E. Michelson, Esq.-Louis E. Michelson, A Professional Corporation