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Information about Form 8940, Request for Miscellaneous Determination, including recent updates, related forms, and instructions on how to file. Organizations exempt under section 501(a) must electronically file Form 8940 to request miscellaneous determinations under sections 507, 509(a), 4940, 4942, 4945, and 6033. Nonexempt charitable trusts also file this form to request an initial determination under section 509(a)(3). Canadian registered charities file this form to be listed as an organization described in section 501(c)(3) on IRS.gov or request classification as a public charity rather than a private foundation.

Information about Publication 557, Tax-Exempt Status for ÐÇ¿ÕÌåÓýÊÖ»ú¶Ë Organization, including recent updates and related forms. Publication 557 discusses the rules and procedures for organizations that seek recognition of exemption from federal income tax under section 501(a) of the Internal Revenue Code.

Tax Tip 2022-81, May 25, 2022 ¡ª To be tax-exempt under Section 501(c)(3) of the Internal Revenue Code, an organization must be organized and operated exclusively for any of these purposes: charitable, religious, educational, scientific, literary, testing for public safety, fostering national or international amateur sports competition, or preventing cruelty to children or animals.

Under?IRC 147, net bond proceeds of private activity bonds are not permitted to be used to acquire an existing facility unless the first use of the property is pursuant to the acquisition. An exception to this rule is available when a qualifying amount is spent on rehabilitation of the acquired property. The restriction does not apply to qualified mortgage bonds, qualified veterans' mortgage bonds, qualified student loan bonds or qualified 501(c)(3) bonds.

Once a foundation has been created under state law and begins to operate, it may want to be recognized as exempt under Internal Revenue Code section 501(c)(3). In addition to exemption from federal income taxation, foundations recognized as exempt under the Internal Revenue Code may enjoy collateral benefits under the Internal Revenue Code, as well as under state or local income, property, sales, use or other tax provisions.

Section 501, Division N, of the Consolidated Appropriations Act, 2021, enacted December 27, 2020, allows States and political subdivisions, U.S. territories, Indian Tribes, and the Department of Hawaiian Home Lands (¡°Distributing Entity¡±) to use certain funds allocated by the Department of the Treasury to provide financial assistance to households to pay rent, utilities, home energy expenses, and other related expenses.? Section 3201 of the American Rescue Plan Act of 2021, enacted March 11, 2021, appropriates additional funds for States, political subdivisions, and U.S. territories to provide financial assistance to households to pay rent, utilities, home energy expenses, and other related expenses.?Payments under either provision are referred to as ¡°Emergency Rental Assistance¡± in the following questions and answers.

Miscellaneous types of organizations that qualify for exemption from federal income tax.

Letters (K-O) of the Charities and Nonprofits sitemap developed to make it easier for website users to navigate.

You are no longer recognized as a tax-exempt subordinate in a group ruling letter.

The Work Opportunity Tax Credit (WOTC) provides a business tax credit to certain employers who hire workers from certain targeted groups. The WOTC is generally claimed as a credit against income tax.