IRS Addresses Exempt Status Issues, Accounting and Energy Items in PLRs

The Internal Revenue Service addressed a variety of issues in private letter rulings released Sept. 14, including organizations’ failure to qualify for exempt charity, business league, or veterans group status.

Other topics considered in the rulings include accounting method changes following a parent corporation’s acquisition of a new subsidiary, production of “refined coal” under tax code Section 45(c)(7), and the income tax treatment of a trust used to fund city retiree health benefits, along with taxpayer requests for relief and extensions of time.

Exempt Organization-Related Rulings.

In the following rulings, IRS’s Tax Exempt and Government Entities Division revoked or denied ...