Under the Internal Revenue Code, a 501(c)(3) organization must be operated exclusively for exempt purposes.
It is on par with defining and calculating capital gains under the internal revenue code.
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It is not a marketed opinion and may not be used to avoid penalties under the Internal Revenue Code.
Exemption from local property taxes can be much more challenging than qualification as a 501(c)(3) organization under the Internal Revenue Code.
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Tax practitioners may charge a contingent fee for services rendered in connection with any judicial proceeding arising under the Internal Revenue Code.
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Under the Internal Revenue Code, a 501(c)(3) organization is also prohibited from intervening in political campaigns or providing any support to political action committees.
These gifts are liable for taxation under the Internal Revenue Code, so the practitioner should advise his client of the necessity of proper gift planning.
These money laundries, organized as 501(c)(4) groups under the Internal Revenue Code, violate the spirit of the tax laws and may well violate the letter of the law as well.
In order to comply with requirements imposed by the IRS, I must inform you that any U.S. federal tax advice contained in this blog is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter that is contained in this blog.
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However, taxpayers should note that Code Sec. 1411 is to follow normal income tax rules (i.e. rules that a tax lawyer or accountant might refer to as tax rules under chapter one of the Internal Revenue Code), so for ease of calculation, what is exempted from the regular income tax, such as tax-exempted mutual bonds, are also excluded from the NII sum.
Under the Methodology Test, as it's known, of the Internal Revenue Code -- of the Internal Revenue Service both of these projects did qualify as educational.
Proc. 2003-61 appropriately interprets the requirements for equitable relief under Internal Revenue Code Section 6015(f).
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An S corporation, for United States federal income tax purposes, is a corporation that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code.
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While the result may seem harsh, we are bound by the provisions of the Internal Revenue Code defining the circumstances in which payments are deductible as alimony under sections 71(b) and 215(a).
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That site is completely unrelated to The Henrietta Lacks Foundation, Inc. a public charity that is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code.
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Tax-exempt social-welfare groups organized under section 501(c)(4) of the Internal Revenue Code are allowed to engage in some political activity, but the primary focus of their efforts must remain promoting social welfare.
Recent reports and discussions make it clear one or more IRS employees responded to a public information request from the news organization ProPublica by giving ProPublica pending applications and subsequent extensive correspondence with the IRS regarding the applications from a number of organizations seeking recognition of their exemption from tax under Section 501(c)(4) of the Internal Revenue Code.
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