Thursday, March 17, 2016
IRS And Liquor By The Wink
Groucho Marx is supposed to have sent a telegram to a club stating - "Please accept my resignation. I don't want to belong to any club that will accept people like me as a member." That sentiment is not exactly a tax principle, but it is very akin to one. The idea is that for an organization to be recognized as a social club exempt under 501(c)(7) belonging to it has to mean something, maybe not much, but something. That was the essence of Private Letter Ruling 201605021. Private letter rulings are redacted, so I'm going to call "the club" - How Dry I Am (HDIA).
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment