On September 28, the IRS released a Reference Guide Sheet designed to help process requests for information on the federal tax treatment of limited liability companies associated with tax-exempt organizations and 501(c)(3) exemption applications filed by limited liability companies. Part I addresses general federal tax issues that may arise regarding an LLC that is associated with a taxexempt organization. Part II addresses issues that may arise when an LLC applies for exemption under 501(c)(3) separately from its owner. The Guide also references additional resources and a model information letter.