This title offers line-by-line tips and instructions to successfully file Form 1023 IRS. Form 1023 Tax Preparation Guide provides comprehensive instructions for completing and filing the new and significantly revised Form 1023 (Application for Recognition of Exemption under Section 501(copyright)(3) of the Internal Revenue Code). Nonprofit organizations - including health and human service organizations, schools, private foundations, churches, libraries, museums, cultural institutions, environmental protection organizations, and other charitable, smaller groups - contend daily with issues related to their IRS filings, from qualifying and applying for tax-exempt status to maintaining and managing it.Written for nprofit executives and directors, accountants, nprofit boards, lawyers, consultants, and volunteers, IRS Form 1023 Tax Preparation Guide is brimming with helpful advice and features, including: strategies for obtaining IRS recognition of tax-exempt status as a charitable organization including a Suitability Checklist to evaluate viability of making application; insights into the rationale behind the information requested by the IRS; specific suggestions for answering each question on Form 1023 and navigating the steps involved in the approval process; practical advice on the alternatives available in contesting an adverse IRS determination; an overview of state filing requirements; a companion Web site that allows nprofits to download key model forms and connect to IRS forms; and, easy-to-use worksheets to help manage such critical concerns as public charity status, tax-exempt eligibility, reporting to the IRS, and tax compliance.
JODY BLAZEK, CPA, is a partner in Blazek & Vetterling LLP, a Houston accounting firm focused on financial services for tax-exempt organizations and the individuals who create, fund, and work for them. She is immediate past chair of the AIPCA Tax-Exempt Resource Panel and heads the Form 990-PF Redesign Task Force. She serves on the editorial board of the Exempt Organization Tax Review and the Tax Advisor. She is a founding director of Texas Accountants and Lawyers for the Arts and the Houston Artist Fund. Blazek's concentration on nonprofits began at KPMG Peat Marwick LLP. She gained industry experience as chief financial officer of the Menil Foundation before forming the firm she now serves. She is the author of Tax Planning and Compliance for Tax-Exempt Organizations, Fourth Edition; Financial Planning for Nonprofit Organizations; IRS Form 990: Tax Preparation Guide for Nonprofits; and Private Foundations: Tax Law and Compliance, Second Edition and The Legal Answer Book for Private Foundations, coauthored with Bruce Hopkins (all published by Wiley).