Application of Section 501(q) to Organizations Assisting Homeowners at Risk of Foreclosure


Notice: Historical Content

This is an archival or historical document and may not reflect current law, policies or procedures.

The IRS Chief Counsel's office has concluded that organizations that provide educational information on financial topics or financial counseling to homeowners at risk of foreclosure are providing "credit counseling services" within the meaning of section 501(q) of the Internal Revenue Code. The Chief Counsel MemorandumPDF has been transmittedPDF to the Exempt Organizations Determinations office for use in processing applications under Code section 501(c)(3) or 501(c)(4).