Write-Offs
June 17, 1999 | Read Time: 1 minute
* The YMCA of the USA and a group of for-profit health clubs have each weighed in with their differing opinions of how the I.R.S. should view the intersection of charities and businesses. Last year Congress ordered the revenue service to review its standards to make sure that charities that run health clubs or provide “fitness services” do not unfairly compete with for-profit enterprises. In detailed comments submitted to the I.R.S., the YMCA and the International Health, Racquet & Sportsclubs Association both urged the revenue service to come up with clearer policies than those now in place.
* The I.R.S. has changed the name of its soon-to-be established unit that will regulate charities, pension plans, and state and local governments. The unit was first called the Tax Exempt Operating Division. But it was renamed the Tax Exempt and Government Entities Operating Division “to more accurately reflect our customer base,” says Evelyn Petschek, who will head the new unit when it begins operating late this year or early next year as part of the I.R.S.’s effort to restructure.