Form 1023 Application Clause Samples
The Form 1023 Application clause outlines the requirement for an organization to complete and submit IRS Form 1023 in order to obtain recognition of tax-exempt status under section 501(c)(3) of the Internal Revenue Code. This clause typically specifies the party responsible for preparing the application, the timeline for submission, and may address the allocation of costs or the provision of supporting documentation. Its core function is to ensure that the organization takes the necessary legal steps to secure tax-exempt status, thereby enabling it to receive tax-deductible donations and comply with federal regulations.
Form 1023 Application. The Interim Directors and Interim Officers shall cause Parent Company to file an Application for Recognition of Exemption Under Code Section 501(c)(3) on Form 1023, and to take such actions and to execute, deliver and file such additional documents and information as may be reasonably necessary to obtain recognition of Parent Company as an organization exempt from taxation under the Code.