New Technical Guide for Business Leagues, Issue Snapshot on Self-Dealing

 

Dear Colleagues and Friends, 

I know from time to time we are asked to form or consult non-profit organizations. The IRS has recently published a new technical guide to help tax-exempt business leagues to maintain their tax-exempt status, TG 6 IRC 501(c)(6) Business Leagues, as well as a new Issue Snapshot on Private Foundations and Self-Dealing. https://www.irs.gov/government-entities/tax-exempt-and-government-entities-issue-snapshots

New TG on business leagues. The newly released TG discusses how tax-exempt business leagues described under Code Sec. 501(c)(6), such as chambers of commerce, real estate boards, and boards of trade, can obtain and maintain their exempt status. The TG also covers IRS examination techniques. The IRS has other tools to help leaders and volunteers of exempt organizations obtain and maintain their organization's exempt status, See Maintaining 501(c)(3) Tax-Exempt Status course, https://www.stayexempt.irs.gov/home/existing-organizations/existing-organizations and the Small to Mid-Size 501(c)(3) Organization Workshop, which provides additional information on the benefits, limitations, and expectations of tax-exempt organizations. https://www.stayexempt.irs.gov/home/resource-library/virtual-small-mid-size-tax-exempt-organization-workshop 

I hope this is a helpful aid.

Frank L. Brunetti