Thursday, October 22, 2009

IRS Raising Tax-Exempt Application Fees

The IRS has announced that they will be raising the fees for organizations applying for tax-exempt status. The main fee will be increased to $850 up from $750, the first increase since 2006. The IRS announced that by law they must review and adjust application fees at least once every two years. The review takes into account the average time it takes to review applications. The bright side is that the IRS expects to soon make available Cyber Assistant. Cyber Assistant is a web-based program that will help applicants prepare the application form and so when organization use this program they will only have to pay a fee of $200. For more information about the increase you can go here.

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