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Most 501(c)(3) organizations may switch from a subjective "substantial part test" to an objective "expenditure test" by making a 501(h) election. 501(c)(3) organizations, named after the section of the Internal Revenue Code that defines them, are U.S. nonprofit organizations with principally charitable, educational, or religious missions.
Internal Revenue Code section 409A; 457 plan; 475 fund; 501(c) organization; 501(c)(3) organization; Omega International Associates; 501(h) election; 527 organization ...
501(k) – Day care centers may qualify as tax-exempt under Section 501(k). [ 135 ] [ 136 ] [ 137 ] The day care center must provide child care away from their homes. [ 136 ] At least 85 percent of the children served must be cared for while their parent or guardian is either employed, seeking employment, or a full-time student. [ 138 ]
To establish a safe harbor for the "substantial part" test, the United States Congress enacted §501(h), called the Conable election after its author, Representative Barber Conable. The section establishes limits based on operating budget that a charity can use to determine if it meets the substantial test.
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(Reuters) -U.S. President-elect Donald Trump's transition team is exploring ways to significantly reduce, merge, or even eliminate the top bank regulators in Washington, the Wall Street Journal ...
Page from the Congressional Record containing a transcript of the passage of the amendment. Paragraph (3) of subsection (c) within section 501 of Title 26 (Internal Revenue Code) of the U.S. Code (U.S.C.) describes organizations which may be exempt from U.S. Federal income tax. 501(c)(3) is written as follows, [4] with the Johnson Amendment in bold letters: [5]
Earlier this month, NBC News asked the top election officers in all 50 states and D.C. how they plan to handle Section 3 of Amendment 14. Many had a similar response to Scanlan's: Look to the ...