Tag: IRS regulations

The Rules: Part1 The Gov’ment

C. SOCIAL CLUBS – IRC 501(c)(7) by Jim Langley and Conrad Rosenberg 1. IntroductionSocial clubs are exempt from federal income tax under IRC 501(a) asorganizations described in IRC 501(c)(7) if they are “organized for pleasure,recreation, and other nonprofitable purposes.” They were originally grantedexemption from federal income tax in the Revenue Act of 1916. Generally, socialclubs are membership organizations primarily supported… Read more →

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