Internal Revenue Bulletin: 2006-21 |
May 22, 2006 |
Table of Contents
Rev. Rul. 2006-27 Rev. Rul. 2006-27
Down payment assistance; home buyers. This ruling sets forth the applicable rules and standards for determining whether organizations that provide down payment assistance to home buyers qualify as tax-exempt charities. In addition, the ruling addresses whether assistance received for a down payment is treated as a gift and included in a home buyer’s basis.
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