The Internal Revenue Service and the Treasury Department have issued new regulations that will make it easier for charities to gain tax-exempt status.
The new regulations eliminate "advance rulings" that granted public charity status for an initial five-year period but required exempt organizations to show that they received a substantial part of their support from public sources in order to receive a final determination letter. Over the years, approximately 95 percent of exempt organizations that received advance rulings were later recognized as publicly supported charities at the end of the five-year period.
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