Wednesday, August 10, 2011

IRS Issues New Form for Routine Ruling Requests from EOs

For years requesting IRS approval for activities subject to relatively clear requirements, such as private foundation scholarship procedures, has been a costly and time-consuming process since often the only route by which to make such requests had been to seek a private letter ruling.  No more!  The IRS just announced the issuance of new Form 8940 (Request for Miscellaneous Determination Under Section 507, 509(a), 4940, 4942, 4945, and 6033).  According to the announcement, the form may be used for the following types of requests:

  • Advance approval of certain private foundation set-asides
  • Advance approval of private foundation voter registration activities
  • Advance approval of private foundation scholarship procedures
  • Exemption from Form 990 filing requirements
  • Advance determination that a potential grant or contribution is an unusual grant
  • Change in (or initial determination of) Type of a section 509(a)(3) supporting organization
  • Reclassification of foundation status
  • Termination of private foundation status


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