Tax & Accounting Blog

New Form for Miscellaneous Determination Requests

1099, Information Reporting for Wealth Management, ONESOURCE, Tax Information Reporting, Trust Tax October 11, 2011

The IRS has released a new form that tax-exempt organizations will use to request certain determinations about their tax-exempt status. In addition to foundation status issues, organizations will use Form 8940, Request for Miscellaneous Determination, to obtain advance approval of certain activities and exemption from Form 990 filing requirements. 

Organizations applying for recognition of exemption and at the same time requesting advance approval of scholarship procedures or exception from filing Form 990 should include their request with their Form 1023, Application for Recognition of Exemption Under Section 501(c)(3), rather than file Form 8940.

The simple one-page form is accompanied by instructions that specify what information is required to support each of the nine types of requests that may be submitted. The IRS reminds organizations that a user fee must accompany most requests.