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Jan. 9 — The IRS in Revenue Procedure 2015-10 updated procedures for issuance of rulings and determination letters regarding the status of private and operating foundations.
The Internal Revenue Service said that in addition to rulings regarding Section 509(a) private foundations and operating foundations under Sections 4942(j)(3) and 4940(d)(2), the procedure applies to the issuance of determination letters on the foundation status under Section 509(a)(3) of non-exempt charitable trusts described in Section 4947(a)(1). Rev. Proc. 2015-10 is scheduled for publication Jan. 12 in Internal Revenue Bulletin 2015-2.
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