In PLR 201121029, the IRS ruled that a lack of risk distribution disqualifies an arrangement as insurance and therefore Taxpayer does not meet the statutory requirement for exemption under Section 501(c)(15) of the Internal Revenue Code.
In PLR 201121029, the IRS ruled that a lack of risk distribution disqualifies an arrangement as insurance and therefore Taxpayer does not meet the statutory requirement for exemption under Section 501(c)(15) of the Internal Revenue Code.