The IRS has released Publication 3079 (rev. June 2010), Tax-Exempt Organizations and Gaming (www.irs.gov/pub/irs-pdf/p3079.pdf). The publication explains the potential effect that gaming may have on an organization's federal tax-exempt status and the special reporting responsibilities of organizations that engage in gaming activities.
To read all or part of this 40-page guide, visit the above link.
Let us know if you have any questions on how this relates to your organization.
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