IRS Releases Revenue Procedure 2016–41

In a news bulletin released late last month, the IRS issued a Revenue Procedure, 2016–41. The document’s purpose is to,

sets forth the procedure for an organization to notify the Internal Revenue Service (IRS), consistent with section 506 of the Internal Revenue Code (Code), that it is operating as an organization described in section 501(c)(4) of the Code (a section 501(c)(4) organization).

To view the Revenue Procedure in full: Internal Revenue Bulletin – July 25, 2016 – Rev. Proc. 2016–41

Posted by Allison Trupp, Associate Editor, Wealth Strategies Journal