VIEWS: 6 PAGES: 2 CATEGORY: Business & Economics POSTED ON: 7/14/2010
In Announcement 2010-13, the IRS has revoked its determination that the Lund Family Foundation of Ogden, UT; American Debt Solutions Inc. of Boca Raton, FL; Equity Funding Corp. of W Des Moines, IA; and Main Street Foundation Inc. of Lawrenceville, GA, qualify as organizations described in Sections 501(c)(3) and 170(c)(2).
Part IV. Items of General Interest Deletions From Cumulative precluded from disallowing a deduction not described in section 170(c)(2) as more List of Organizations for any contributions made after an or- particularly set forth in section 7428(c)(1). Contributions to Which ganization ceases to qualify under section For individual contributors, the maximum 170(c)(2) if the organization has not timely deduction protected is $1,000, with a hus- are Deductible Under Section filed a suit for declaratory judgment under band and wife treated as one contributor. 170 of the Code section 7428 and if the contributor (1) had This benefit is not extended to any indi- knowledge of the revocation of the ruling vidual, in whole or in part, for the acts or Announcement 2010–13 or determination letter, (2) was aware that omissions of the organization that were such revocation was imminent, or (3) was the basis for revocation. The Internal Revenue Service has re- in part responsible for or was aware of the voked its determination that the organi- ac
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