New IRS Regs for Sponsorships

Now meeting planners who work for tax-exempt organizations have another set of regulations to consider. The Treasury Department and Internal Revenue Service last spring came out with their final rules relating to the tax treatment of corporate sponsorship payments received by tax-exempt organizations, which includes the sponsorship monies received by many event organizers. [In this column, the word sponsor refers to the company providing funding.] The final regulations took effect on April 25