WASHINGTON–The IRS released several new Technical Advice Memoranda today, which include the sale of accidental death & dismemberment insurance, credit life and credit disability insurance, and non-member ATM fees under the Unrelated Business Income Tax.

CUNA General Counsel and Executive Vice President Eric Richard explained that they basically cover the same things as the TAMs previously released. “However, one of the memos addresses income derived from fees charged to non-members using a particular credit union’s ATM. While this development is theoretically significant, we believe that very few, if any, credit unions nationwide generate significant net income from nonmember ATM fees once they allocate all expenses to this activity that are properly allocated.”

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