IRS Notice 2021-56 – Confirmation of Exemption Standards for Limited Liability Companies
This Bulletin is brought to you by AHLA’s Tax and Finance Practice Group.
- December 10, 2021
- Kristin N. Lindgren , Baird Holm LLP
The Internal Revenue Service (IRS) recently published Notice 2021-56, which describes and further elaborates on Section 501(c)(3) tax-exempt standards for limited liability companies (LLCs). The purpose is to provide welcomed guidance on a somewhat quiet area of the Internal Revenue Code (Code).
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