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Expert Analysis

501(c)(3) Trouble For Bankruptcy Counseling Agencies

Law360, New York (May 26, 2011, 2:06 PM EDT) -- On April 29, the Internal Revenue Service issued Private Letter Ruling (PLR) 201117036 denying a nonprofit credit counseling agency (CCA) tax-exempt status under Section 501(c)(3) because its primary activity would have been the provision of prebankruptcy certification and post-bankruptcy counseling for fees....

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