November 16, 2011
Authored by: Keith Kehrer
As we discussed in our Janaury 18, 2011 post, credit counseling and down payment assistance organizations are subject to special scrutiny by the IRS. The IRS recently issued “Frequently Asked Questions” regarding credit counseling organizations, including factors the IRS considers to determine whether such organizations qualify under Section 501(c)(3). This information is useful for new organizations as well as existing organizations to confirm the organization continues to operate within the IRS guidelines.