EXEMPT ORGANIZATIONS

Rev. Proc. 2018–32, page 739. This revenue procedure modifies and combines Rev. Proc. 81–6, 1981–1 C.B. 620; Rev. Proc. 81–7, 1981–1 C.B. 621; Rev. Proc. 89–23, 1989–1 C.B. 844; and Rev. Proc. 2011– 33, 2011–25 I.R.B. 887, into one revenue procedure to provide accessible guidance for grantors and contributors of taxexempt organizations on deductibility and reliance issues.

Rev. Rul. 2018–14, page 736. This revenue ruling obsoletes Rev. Rul. 68–59, 1968–1 C.B. 273, which held that an exempt organization in computing its net operating loss under § 172 of the Internal Revenue Code (Code) must exclude the specific deduction of $1,000 provided in § 512(b)(12) of the Code. Section 512(b)(12) was subsequently amended to codify this ruling.

Rev. Rul. 2018–15, page 736. This revenue ruling obsoletes certain revenue rulings which provided guidance on the advance ruling process under former §§ 1.170A–9(e)(5) and 1.509(a)–3(d) of the Income Tax Regulations for determining whether a newly created section 501(c)(3) organization is not a private foundation. Final regulations promulgated by T.D. 9549, 2011–46 I.R.B. 718, 76 FR 55746–01, eliminated the advance ruling process.

Finding Lists begin on page ii.