Updated Technical Guide on exemption of certain business leagues and boards
Tax exemption of business leagues, chambers of commerce, real estate boards, and boards of trade
Exemption of certain business leagues and boards
The IRS’ Exempt Organizations and Government Entities division recently published a new Technical Guide on the tax exemption of business leagues, chambers of commerce, real estate boards, and boards of trade described under section 501(c)(6).
Read TG 6 IRC 501(c)(6) Business Leagues [PDF 404 KB]
Background
Technical Guides are comprehensive, issue-specific documents that combine and update the Audit Technique Guides available on the IRS website with other technical content. Once completed, the Technical Guides replace corresponding Audit Technique Guides. The IRS has been releasing updated Technical Guides over the last year, most of which have addressed the rules specific to private foundations. Read the Audit Technique Guides (ATGs) and Technical Guides (TGs) for Exempt Organizations
For more information, contact a tax professional with KPMG’s Washington National Tax practice:
Ruth Madrigal | ruthmadrigal@kpmg.com
Preston Quesenberry | pquesenberry@kpmg.com
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