The current time period varies. The IRS is understaffed in this department. If your application raises no questions, it could be approved in as little as a month or two. If it raises significant questions, as many seem to, it may take several months to be assigned to an examiner and six months or more to get reviewed and approved. The IRS has a procedure for requesting expedited consideration, but the requirements are reasonably stringent and it doesn’t always speed up the process.