EO Update August 8, 2013
Issue Number: 2013-15
Don't miss the upcoming IRS phone forum: 501(c)(7) Social and Recreational Organizations – How to Stay Tax-Exempt, August 21, 2013 2-3 p.m. ET
Fraternities, country clubs, hobby clubs and sports clubs all are examples of groups organized for social, recreational and similar nonprofit purposes that are tax exempt under Section 501(c)(7) of the Internal Revenue Code.
This instructive phone forum will discuss:
- How they are different from other nonprofits
- Organizational requirements
- Operational requirements
- Required filings
- Unrelated business income
- Non-traditional income
The phone forum is eligible for CPE credits for Enrolled Agents.