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A powerful House panel asked the IRS Tuesday to revoke the tax-exempt status of nine nonprofits that sowed “chaos and discord” during anti-Israel protests on college campuses, according to ...
The IRS again notified the University on April 16, 1975, of the proposed revocation. Officially, the IRS revoked the university's tax exempt status on January 19, 1976. The university paid $21 in unemployment taxes for one employee for tax year 1975 and then filed for a refund in the United States District Court for the District of South ...
Bob Jones University v. Simon, 416 U.S. 725 (1974), is a decision made by the Supreme Court of the United States holding that Bob Jones University, which had its 501(c)(3) status revoked by the Internal Revenue Service for practicing "racially discriminatory admissions policies" towards African-Americans, could not sue for an injunction to prevent losing its tax-exempt status. [1]
In 1958, however, the Washington church lost its tax-exempt status on the grounds that its tenets and practices did not constitute an exclusively religious or educational activity. [5] A key factor in the revocation of its exemption was the issue of private inurement – the use of tax-exempt monies to benefit a non-tax-exempt individual or ...
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The average federal income tax refund in 2024 was $3,138 based on IRS data through Dec. 27, down 0.9% from the same period in 2023.
Churches and associated corporations are automatically considered tax-exempt and are not required to apply for and obtain recognition of exempt status from the IRS. Donors are allowed to claim a charitable deduction for donations to a church that meets the section 501(c)(3) requirements, even though the church has neither sought nor received ...
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]