Errata Sheet for Form 1023
Changes to Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, are necessary to comply with the new regulations that eliminated the advance ruling process. The IRS prepared an errata sheet with instructions for completing Part IX and Part X of the Form 1023 to be used until the Form 1023 is revised.
Summary of Errata Sheet
If organization has existed for five or more years, provide financial data for the five most recent tax years.
If organization has existed for less than five years, provide financial data for each year in existence and good faith estimate financial data for future years for a total of three years if the organization has existed for less than a year or a total of four years if the organization has existed for more than a year.
Do not complete line 6a on page 11, and do not sign the statute extension clause (under heading "Consent Period of Limitations Upon Assessment of Tax Under Section 4940 of the Internal Revenue Code").
Only complete line 6b and line 7 on page 11 if the organization has existed for five or more tax years.
Page Last Reviewed or Updated: January 08, 2009