The article reports that the Internal Revenue Service (IRS) of the United States has issued a letter which has declared an international ministry organization as a church. The letter rules that the organization satisfies maximum of the IRS criteria for that kind of public charity institution. The...
When selling your home, you may have signed a form certifying you will not have a taxable gain on the sale. If you completed a 1099-S Exemption Certification Form and you met all six criteria for not having to report the sale on your tax return, the title company or closing attorney ma...
The IRS final rules clarify how to fully comply with these four requirements, and provide direction for the handling of loans that do not meet these criteria.Any loan (when added to the outstanding balance of all other loans from a plan) must not exceed the lesser of: • $50,000, ...