April 2022
Intermediate to advanced
208 pages
6h 6m
English
Content preview from Tax Planning and Compliance for Tax-Exempt Organizations, 6th Edition
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CHAPTER 10Instrumentalities of Government and Title-Holding Corporations
p. 218. Expand Chapter Title to:
Instrumentalities of Government (c)(1), Governmental Units (c)(2), Title-Holding Corporations(c)(2), Fraternal Beneficiary Societies, Orders, or Associations (c)(8), and Lodges 501(c)(10)
p. 240. Add new section:
§ 10.6 Requirements for IRC §501(c)(8) and (c)(10)
The words of the tax code and regulations are very specific and detailed about this subject, as shown below. IRC § 501(c)(8), later referred to as (c)(8), provides for the exemption from federal income tax of fraternal beneficiary societies, orders, or associations that:
- Operate under the lodge system or for the exclusive benefit of the members of a fraternity itself operating under the lodge system, and
- Provide for the payment of life, sickness, accident, or of other benefits to the members of such society, order, or association or their dependents.
- Operate for a tax-exempt purpose of joining together persons of similar interests, education, professional affiliations, and other common skills typical for a fraternal organization.
IRC § 501(c)(10), later referred to as (c)(10), provides for the exemption from federal income tax of domestic fraternal societies, orders, or associations operating under ...
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