Day: April 7, 2018

What is a 501 (c) 7 SOCIAL CLUB?

SOCIAL CLUB – IRC 501(c)(7) by Jim Langley and Conrad Rosenberg 1. Introduction Social clubs are exempt from federal income tax under IRC 501(a) as organizations described in IRC 501(c)(7) if they are “organized for pleasure, recreation, and other nonprofitable purposes.” They were originally granted exemption from federal income tax in the Revenue Act of 1916. Generally, social clubs are membership organizations primarily… Read more →