EO Sample Closing Agreement as To Final Determination

Closing Agreement as to Final Determination Covering Specific Matters Under Section 7121 of the Internal Revenue Code

[Taxpayer's name, address, and identifying number]

Under section 7121 of the Internal Revenue Code (Code) (Name of Organization) (Taxpayer) and the Commissioner of Internal Revenue (the Service) make the following Closing Agreement.

WHEREAS, [Taxpayer] has been recognized as an organization described in section 501(c) (_) of the Code since [Date].

WHEREAS, Commissioner conducted an audit of [Taxpayer] annual return(s), [Form(s) 990, 990-T, 990-PF, etc.] for the year(s) ending [Tax periods in month day, year format].

WHEREAS, on a preliminary basis Commissioner adopted a proposed adverse position that [Taxpayer's] [tax exempt status under section 501(c)(_) of the Code should be revoked] / [is liable for unrelated business income tax, employment tax, etc.].

This position is based on information indicating that [describe facts upon which the proposed adverse position is based in one or more whereas clauses].

WHEREAS, [Taxpayer] [describe corrective steps already taken].

NOW, THEREFORE, IT IS HEREBY FURTHER DETERMINED AND AGREED BETWEEN TAXPAYER AND THE SERVICE AS FOLLOWS for federal income tax purposes that:

[List payment made and/ or actions taken by taxpayer].

[List tax treatment agreed to by parties].

[Where determination letter is issued because of closing agreement, insert here: The letter recognizing tax-exempt status is attached to this agreement.]

This agreement is limited to the specific Internal Revenue Code matters discussed herein and does not extend to other federal law.

THIS AGREEMENT IS FINAL AND CONCLUSIVE, EXCEPT:

(a)

the matter it relates to may be reopened in the event of fraud, malfeasance, or misrepresentation of material fact;

Closing Agreement with [Name of organization and TIN]

(b)

it is subject to the Internal Revenue Code sections that expressly provide that effect be given to their provisions (including any stated exception for Code section 7122) notwithstanding any other law or rule of law; and

(c)

if it relates to a tax period ending after the date of this agreement, it is subject to any law, enacted after the agreement date, that applies to that tax period.

By signing below, the parties certify that they have read and agreed to the terms of this document.

[NAME OF TAXPAYER]

By

Date signed:

(Title or authority of signer)

COMMISSIONER OF INTERNAL REVENUE

By

Date signed:

Title