The Internal Revenue Service (the “IRS”) recently issued Rev. Proc. 2020-8, which seeks to make the transition away from the current paper filing system of Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, to, instead, an electronic filing on Pay.gov. This change is expected to reduce the amount of errors on applications, as well as improve the turnaround time to receive a determination of tax exempt status from the IRS. The revenue procedure went into effect on January 31, 2020 (the “Effective Date”). However, the IRS has allowed for a 90 day grace period from the Effective Date in which it will still accept the paper form applications. If you have any questions regarding 501(c)(3)’s, the application process for tax exemptions, or any other non-profit related matters, contact D. Scott Robinson or Maverick Flowers at BHGR Law at 303-402-1600.
