tax exemption

(redirected from Tax-exempt status)
Also found in: Financial, Encyclopedia.
Related to Tax-exempt status: Form 1023
Translations

tax exemption

nesenzione f fiscale
References in periodicals archive ?
WASHINGTON -- Every so often, in a bid to sound threatening, a member of Congress has vowed to revoke the NFL's tax-exempt status.
The nonprofit club, which has five outdoor firing ranges on 37 acres, reapplied for tax-exempt status as a property "exclusively occupied or used as a public park or for public recreation," under Oregon law.
Congress is debating federal tax reform, including a cap or a repeal of the tax-exempt status of municipal bond interest.
In a report issued on May 14, the Treasury Inspector General for Tax Administration (TIGTA) found that the IRS used inappropriate criteria that identified for review applications for tax-exempt status from tea party and other organizations based upon their names or policy positions instead of focusing on the activities of the organizations and whether they met the requirements under the law for tax-exempt status.
The Internal Revenue Service has admitted that it was involved in the "inappropriate" targeting of conservative political groups during the 2012 election cycle, under the guise of investigating possible violations of tax-exempt status.
Today, Lois Lerner, who heads the IRS unit that oversees tax-exempt groups, issued an apology and said that practice was initiated by low-level workers in Cincinnati and inappropriately focused on groups that included the words "tea party" or "patriot" in their applications for tax-exempt status, singling them out for additional reviews.
The overall number of tax-exempt organizations in the United States dropped by 18 percent last year as the number of applications for tax-exempt status declined by about 7 percent compared to 2010.
The IRS included several dozen credit unions on its list of organizations that would lose their tax-exempt status because the agency hadn't received the forms.
A tax-exempt organization that fails to file the e-postcard for three consecutive years loses its tax-exempt status and may be liable for the $800 minimum franchise tax.
Summary: WASHINGTON: A hawkish pro-Israel activist Jewish group called "Z Street" has filed a lawsuit alleging that the Internal Revenue Service is impeding or denying applications for tax-exempt status from nonprofit organizations that oppose the Obama administration's policies toward Israel.
Individuals serving on nonprofit boards or otherwise involved with a nonprofit organization should be aware that hundreds of thousands of small nonprofit organizations are at risk of losing their federal tax-exempt status for failing to file 2007, 2008 and 2009 federal tax returns.
Those that miss filing deadlines could have their tax-exempt status revoked and could have to pay $750 to go through the application process all over again.