Law360, New York ( April 24, 2015, 5:38 PM EDT) -- On April 16, 2015, the Internal Revenue Service released Notice 2015-34, its first guidance on general welfare since President Obama signed the Tribal General Welfare Exclusion Act into law in September 2014. The act added a new IRS section (139E) that applies the general welfare exclusion to Indian tribes and payments received by tribal members, their spouses and dependents. Three months before the act became law, the IRS released Revenue Procedure 2014-35, which provides a series of safe harbors applicable to specific types of tribal general welfare programs. Notice 2015-34 provides guidance on the act's effect on the revenue procedure. It states that §139E codifies, but does not supplant, the general welfare exclusion, and that taxpayers may continue to rely on the revenue procedure....
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