The Chronicle of Philanthropy
TAX WATCH

IRS Rejects Tax Exemptions to Some Housing Groups

By Elizabeth Schwinn

Groups that give down-payment assistance to home buyers do not qualify for tax-exempt status if the down payments are provided by the sellers of the homes, the IRS said in a revenue ruling.

In its ruling, the IRS said that when homeowners and builders give money to down-payment assistance organizations on the condition that the groups...

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