September 1, 2005 | Read Time: 1 minute
IRS Form 1023 Tax Preparation Guide
by Jody Blazek
To obtain tax-exempt status, an organization must file Form 1023 with the Internal Revenue Service. This book, by Jody Blazek, a Houston accountant and author of several books on nonprofit organizations, offers guidance for preparing that form and securing approval by the IRS.
Ms. Blazek provides aspiring nonprofit founders with advice for determining the viability of their request for tax-exempt status. She then describes the form line by line and explains why the revenue service asks for various types of information. She also explains how to weigh facts that should be included against their potential for generating undue concern or controversy within the IRS.
The process of preparing Form 1023 can be a useful exercise for people just getting an organization off the ground, Ms. Blazek says. Her book explains how a new organization’s founders can use the form as an opportunity to define their goals, shape their programs, identify which people they will serve, and determine how they will raise and allocate money.
The book also includes guidance for handling problems that may arise, such as denial of the tax exemption or late filing, as well as specific state requirements.
Publisher: John Wiley and Sons, 111 River Street, Hoboken, N.J. 07030-5774; (201) 758-6000; fax (201) 758-6088; http://www.wiley.com; 252 pages; $40; ISBN 0-471-71525-5.
