The IRS today released an advance version of Rev. Proc. 2018-32 that updates and combines earlier IRS guidance about deductibility and reliance issues for grantors and contributors to tax-exempt organizations.
Rev. Proc. 2018-32 [PDF 98 KB] (33 pages) modifies, supersedes, and combines earlier revenue procedures—Rev. Proc. 81-6, Rev. Proc. 81-7, Rev. Proc. 89-23, and Rev. Proc. 2011-33—into one revenue procedure with a goal of providing “…more easily accessible guidance to grantors and contributors to tax-exempt organizations on deductibility and reliance issues.”
Rev. Proc. 2018-32:
The purpose of this report is to provide text of the 33-page revenue procedure.
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