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Story
March 22, 1961
The Nome Nugget
Nome, Nome County, Alaska
What is this article about?
A tax-exempt labor organization contests in U.S. Tax Court the IRS imposition of income tax on bingo game proceeds of $17,285 (1956) and $11,106 (1957), ruled as unrelated business income. Games were held in a union-owned building for members, guests, and public.
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Court Tests That Bingo Game Proceeds Subject to Federal Tax
Receipts from bingo games conducted by an otherwise tax-exempt labor organization may be subject to federal income tax, according to Commerce Clearing House, national reporting authority on tax and business law.
A labor organization is now contesting in the U. S. Tax Court income tax imposed on bingo proceeds of $17,285 and $11,106 for 1956 and 1957. The bingo proceeds were ruled taxable by the Internal Revenue Service as "unrelated business income" of the tax-exempt labor organization, Commerce Clearing House says.
The games were regularly conducted by the union education and welfare division in a building owned by labor organizations in the area. Union members and their guests as well as the general public attended.
Receipts from bingo games conducted by an otherwise tax-exempt labor organization may be subject to federal income tax, according to Commerce Clearing House, national reporting authority on tax and business law.
A labor organization is now contesting in the U. S. Tax Court income tax imposed on bingo proceeds of $17,285 and $11,106 for 1956 and 1957. The bingo proceeds were ruled taxable by the Internal Revenue Service as "unrelated business income" of the tax-exempt labor organization, Commerce Clearing House says.
The games were regularly conducted by the union education and welfare division in a building owned by labor organizations in the area. Union members and their guests as well as the general public attended.
What sub-type of article is it?
Historical Event
What themes does it cover?
Justice
What keywords are associated?
Bingo Tax
Labor Organization
Unrelated Business Income
U.S. Tax Court
Irs Ruling
What entities or persons were involved?
Labor Organization
Where did it happen?
U. S. Tax Court, Building Owned By Labor Organizations
Story Details
Key Persons
Labor Organization
Location
U. S. Tax Court, Building Owned By Labor Organizations
Event Date
1956 And 1957
Story Details
A tax-exempt labor organization contests IRS ruling that bingo proceeds are taxable unrelated business income, held regularly by union education and welfare division for members, guests, and public.