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Snaptax Publication 938 - Introductory Material Table of Contents Introduction Introduction Section references are to the Internal Revenue Code unless otherwise noted. Snaptax This publication contains directories relating to real estate mortgage investment conduits (REMICs) and collateralized debt obligations (CDOs). Snaptax The directory for each calendar quarter is based on information submitted to the IRS during that quarter. Snaptax For each quarter, there is a directory of new REMICs and CDOs and, if required, a section containing amended listings. Snaptax You can use the directory to find the representative of the REMIC or the issuer of the CDO from whom you can request tax information. Snaptax The amended listing section shows changes to previously listed REMICs and CDOs. Snaptax The update for each calendar quarter will be added to this publication approximately six weeks after the end of the quarter. Snaptax Publication 938 is only available on the Internet. Snaptax To get Publication 938, including prior issues, visit IRS. Snaptax gov. Snaptax Future developments. Snaptax The IRS has created a page on IRS. Snaptax gov that includes information about Publication 938 at www. Snaptax irs. Snaptax gov/pub938. Snaptax Information about any future developments affecting Publication 938 (such as legislation enacted after we release it) will be posted on that page. Snaptax Other information. Snaptax Publication 550, Investment Income and Expenses, discusses the tax treatment that applies to holders of these investment products. Snaptax For other information about REMICs, see sections 860A through 860G and the regulations issued under those sections. Snaptax Prev Up Next Home More Online Publications
Questions and Answers on 501(c) Organizations
May 15, 2013
The IRS has received a variety of questions related to the exempt organization issues recently raised. Here are some basics on the issue.
1. What are the issues raised in the recent Treasury Inspector General for Tax Administration (“TIGTA”) report?
The issues relate to the application process for organizations seeking tax-exempt status. Part of the IRS’s responsibility is to review applications of organizations seeking tax-exempt status. Section 501(c)(3) organizations are required to get IRS approval. Others, including section 501(c)(4) organizations, are not required to get IRS approval, but often seek it.
2. Do the issues raised in the recent report relate to audits/ examinations?
No, the issues relate to the approval process of organizations that applied to the IRS for recognition of tax-exempt status.
3. What does the IRS look for in the approval process?
The IRS’s role is to determine whether organization meets the legal requirements for tax-exempt status. One requirement relates to the amount of political campaign intervention (“political activity”) that tax-exempt organizations may engage in. Section 501(c)(3) organizations are prohibited from engaging in any political activity. Other organizations, including section 501(c)(4) organizations, may only engage in a limited amount of political activity.
4. Where does an organization send its application for tax-exemption?
All applications are sent to the IRS Determinations Office in Cincinnati. This office receives approximately 70,000 applications for tax-exempt status of all kinds each year. This includes applications from section 501(c)(3) and section 501(c)(4) organizations. This office, which includes fewer than 200 people working directly on applications, is primarily responsible for working determination applications. Determinations staff may consult with tax law specialists in Washington on how the law applies to their case.
5. Has the IRS seen an increase in the number of applications in which the organization is potentially engaged in political activity?
Yes, the IRS has seen an increase in the number of section 501(c)(4) applications in general. The number of applications has more than doubled in recent years. In addition, the IRS has seen an increase in the number of tax-exempt organization applications in which the organization is potentially engaged in political activity. This includes both section 501(c)(3) and section 501(c)(4) organizations.
6. How did the IRS handle the increase in the number of applications from organizations that appeared to be engaged in political activity?
As done in the past in other situations, such as credit counseling and down payment assistance), the IRS selected cases using identified criteria so that cases needing further review would be worked consistently. This means that cases meeting the selection criteria were centralized and assigned to designated employees developing expertise in the area so that they could be worked in a fair and consistent manner.
7. How are decisions made regarding what cases should be centralized in this area?
Cases are selected for centralization if there are indications in the application that the organization may engage in political campaign intervention, lobbying, or advocacy. This was done to ensure that the legal requirements related to these activities are applied in a fair and consistent manner. The set of criteria was revised at a later point in order to avoid centralizing pure lobbying organizations that did not require follow-on development. During certain periods (August 2010 to July 2011 and January 2012 to June 2012), specific names, terms and policies (such as Tea Party and Patriot) were inappropriately used as criteria in determining which cases should be centralized. However, case selection during these periods was not limited to these criteria.
8. What cases were centralized?
The TIGTA report reflects that 300 cases were centralized. Approximately 70 of those cases included the name Tea Party. The remaining cases included organizations of all political views. The current number of centralized cases is approximately 470.
9. Why did IRS employees look at Tea Party organizations?
IRS employees had seen cases of organizations with the name Tea Party in which political activity was an issue that needed to be reviewed for compliance with legal requirements. Because of the increased inventory of applications, this inappropriate criterion was used as a shortcut to centralize similar cases.
10. Would organizations with Tea Party in the name have been centralized if only appropriate selection criteria had been used?
Yes, in most cases the organization would have been centralized based on the information included in the application. The IRS should have focused on this information instead of using a shortcut.
11. Were centralized cases worked differently depending on which selection criteria was used?
No, centralized cases were not worked differently depending on which selection criteria was used.
12. Did mistakes occur in working the centralized cases?
Yes. Applicants whose cases were centralized unfortunately experienced inappropriate delays and over-expansive information requests in some cases. This was caused by ineffective processes and not related to the selection criteria used for the centralization of a case.
13. Is there any evidence of political bias in selecting cases for centralization or in working those cases?
The TIGTA report included no findings of political bias. In addition, the IRS has found no indication of political bias.
14. How many centralized applications have been approved?
Since centralization, more than 175 applications have been approved to date. As with all applications for tax-exempt status that are approved, the names of organizations whose applications have been approved are publicly available.
Page Last Reviewed or Updated: 04-Sep-2013
Snaptax Index A Adoption Child tax credit, Adopted child. Snaptax (see also Child tax credit) Afghanistan, Afghanistan area. Snaptax Aliens, Alien Status Amount of exclusion, Amount of Exclusion Arabian peninsula, Arabian peninsula. Snaptax Assistance (see Tax help) C Child tax credit, Child Tax Credit Limits Modified adjusted gross income, Modified AGI. Snaptax Qualifying child, Qualifying Child Child, qualifying, Qualifying child. Snaptax Claims for tax forgiveness, Claims for Tax Forgiveness Codes, W-2, Form W-2 Codes Combat zone Election to include pay for earned income credit, Nontaxable combat pay election. Snaptax Exclusion, Combat Zone Exclusion Extension of deadlines, Service That Qualifies for an Extension of Deadline Related forgiveness, Combat Zone Related Forgiveness Community property, Community Property, Residents of community property states. 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Snaptax Expenses Employee business, Employee Business Expenses Moving, Moving Expenses Extension of deadlines, Extension of Deadlines Extension of time to file, Extensions F Family, Adopted child. Snaptax (see also Child tax credit) Filing returns, Filing Returns First-time homebuyer credit, First-Time Homebuyer Credit Foreclosures Mortgage settlement payouts, Foreclosures Foreign income, Foreign Source Income Foreign moves, Foreign Moves Forms 1040, Foreign Moves, Itemized Deductions, Where To File 1040A, Where To File 1040EZ, Where To File 1040NR, Nonresident Aliens 2106, Employee Business Expenses, Reimbursement. Snaptax 2106-EZ, Employee Business Expenses 2848, Signing Returns, Spouse overseas. Snaptax 3903, Moving Expenses 4868, Extensions W-2, Form W-2 Codes, Form W-2. Snaptax , Nontaxable combat pay election. Snaptax Foster care Child tax credit, Qualifying Child Free tax services, Free help with your tax return. Snaptax G Gross income, Gross Income H Help (see Tax help) Home Away from, Away from home. Snaptax Definition of, Away from home. Snaptax Sale of, Sale of Home Homebuyer credit, First-Time Homebuyer Credit Hospitalization, Hospitalized While Serving in a Combat Zone, Hospitalized After Leaving a Combat Zone, Qualified hospitalization. Snaptax I Income Foreign source, Foreign Source Income Gross, Gross Income Individual retirement arrangements, Individual Retirement Arrangements Installment agreement Payment deferment, Request for deferment. Snaptax Interest rate (maximum), Maximum Rate of Interest Iraq, Arabian peninsula. Snaptax Itemized deductions, Itemized Deductions J Joint returns, Joint returns. Snaptax , Joint returns. Snaptax , Joint returns. Snaptax K Kosovo, The Kosovo area. Snaptax M Military action related forgiveness, Terrorist or Military Action Related Forgiveness Military Spouses Residency Relief Act Domicile, Military Spouses Residency Relief Act (MSRRA) Miscellaneous itemized deductions, Employee Business Expenses Missing status, Missing status. Snaptax , Spouse in missing status. Snaptax , Missing status. Snaptax Modified adjusted gross income (MAGI) Child tax credit limits, Modified AGI. Snaptax Moving expenses, Moving Expenses N Nonresident aliens, Nonresident Aliens P Permanent change of station, Permanent change of station. Snaptax Personal representative, Forgiveness of Decedent's Tax Liability Power of attorney, Signing Returns Professional dues, Professional Dues Publications (see Tax help) Q Qualifying child, Qualifying child. Snaptax R Reimbursements Employee business expenses, Reimbursement. Snaptax Moving and storage, Services or reimbursements provided by the government. Snaptax Uniforms, Uniforms Reservists, Armed Forces reservists. Snaptax Travel, Armed Forces Reservists Uniforms, Uniforms Resident aliens, Resident Aliens Returns Filing, Filing Returns Signing, Signing Returns S Sale of home, Sale of Home Same-sex marriage, Same-Sex Marriage SCRA violation payouts, Foreclosures Separate returns, Separate returns. Snaptax Servicemembers Civil Relief Act, Maximum Rate of Interest Serving in a combat zone, Serving in a Combat Zone Social security numbers (SSNs) Earned income credit, Residency test. Snaptax Spouse Deadline extension, Spouses. Snaptax Died, Spouse died during the year. Snaptax Incapacitated, Spouse incapacitated. Snaptax Missing, Spouse in missing status. Snaptax Nonresident alien, Treating nonresident alien spouse as resident alien. Snaptax Overseas, Spouse overseas. Snaptax State bonus payments, State bonus payments. Snaptax T Tax forgiven, Combat Zone Related Forgiveness Tax help, How To Get Tax Help Temporary work location, Temporary work location. Snaptax Terrorist related forgiveness, Terrorist or Military Action Related Forgiveness Transportation, Armed Forces reservists. Snaptax Transportation expenses, Transportation Expenses Travel expenses, Travel Expenses TTY/TDD information, How To Get Tax Help U Uniforms, Uniforms W When to file, When To File Where to file, Where To File Y Yugoslavia, The Kosovo area. Snaptax Prev Up Home More Online Publications