On September 9, 2020, the Tax Court issued a Memorandum Opinion in the case of The Korean American Senior Mutual Assoc. Inc. v. Commissioner (T.C. Memo. 2020-129). The primary issue before the court in Korean-American was whether The Korean-American Senior Mutual Association, Inc. (KASMA) was operated exclusively for one or more exempt purposes as set forth in IRC § 501(c)(3). Background to The Korean American Senior Mutual Assoc. Inc. v. Commissioner The Korean-American Senior Mutual Association, Inc. (KASMA) was founded in 1996 informed for four purposes: (1) to provide burial benefits and assistance to the surviving families of deceased; (2) to provide information to senior citizens in regard to their burial concerns and general welfare; (3) to provide organized activities for senior citizens to enhance their effective use of free time and friendship; and (4) to provide annual scholarships to needy, promising students. In August 1998, the IRS sent a…