Myth #1
From 12 COMMON MYTHS ABOUT PMAs Myth #1: 508c1as are PMAs (such as: faith-based ministries, organizations, and associations). Truth #1: 508c1a is NOT an entity in and of itself. 508c1a is a section from the IRS Tax Code Title 26 that states: (C) Exceptions Subsections (a) and (b) shall not apply to— This code states …