tednruthy Report post Posted March 31, 2011 I have been tasked by my FMCA chapter to determine what, if any, treasury balance number in our chapter treasury would be an issue with the IRS. I picked this forum to ask the question. Do any of you know the answer to this question? I am not looking for opinions, since we all have one of these. I am looking for an answer based on some reference to the IRS code. THANK YOU, in advance, if anyone has any pointers on this. My chapter has members who are concerned about our treasury balance getting too large for the IRS, but no one can say what "too large" is, in the eyes of the IRS. We are only talking about $12,000 to 14,000, but to satisfy the concern, I need to research this. Thanks, again, if you can help from prior experience with some references to IRS publications. I have looked but failed to find any specifics at IRS.gov Ted Share this post Link to post Share on other sites
jaytest Report post Posted March 31, 2011 Ted: Your treasury is not over any limits with regard to the IRS. Since you are tax-exempt under the FMCA tax-exempt status, you do not pay taxes on your income. There are certain types of income that you pay tax on, such as interest, royalties and rent. You can find all of this information in the Chapter President's Handbook and you can call the FMCA Chapter Services Department to request one. Lana Makin Share this post Link to post Share on other sites
