Question

In: Nursing

Identify organizations whose tax-exempt status is being challenged?

Identify organizations whose tax-exempt status is being challenged?

Solutions

Expert Solution

Tax exempt status:

A A 501 (c) (3) organization is to corporation and any community chest, fund, or foundation, organsed and operated exclusively for religious, charitable, scientific, testing for public safety, em, or educational purposes, or to foster notional or internatsnal amateur sports competition (so long as none offis ocOMes involve the providing of athletic facilities or equipment) or for the prevention of cruelty to children or animals, no part of Me net earnings of which inures to the benefit of any private shareholder or indsclual, no substantial part of the achwhes of which is carrying on propaganda participate or intervene in any polfical campaign.

A basic requirement for tax exempt status:

It must have improved the access to health care services.

It should have been advancing the health of the community.

It is delivered to improve the knowledge regarding treatment, care, or health.

It must relieve or lessen the burden of government or other similar community efforts.

According to the IRS, tens of thousands of nonprofit organizations have their tax-exempt status revoked every year. Many of these revocations are simply the result of failure to file the proper IRS forms, an oversight more common among smaller, less sophisticated nonprofits. Increasingly, though, these revocations are the result of challenges brought by state and local authorities, Congress or other federal agencies, and the general public.

Ex: The University of Pittsburgh Medical Center's (UPMC) Tax-Exempt Status (Allegheny Co. News);   Princeton's Tax-Exempt Status Challenged by Neighbors' Lawsuit (Huffington Post);   or Examining NFL's Tax-Exempt Status (ESPN.com).


Related Solutions

Discuss how tax-exempt status is granted to public charities, private foundations, and commercial organizations.
  Discuss how tax-exempt status is granted to public charities, private foundations, and commercial organizations. What differences are there in terms of the criteria an organization must meet to be designated tax-exempt? What governing body decides on these criteria?
discuss some of the issue relative to tax exempt status of non profit hospital
discuss some of the issue relative to tax exempt status of non profit hospital
If the tax-exempt status of municipal bonds were abolished, how would the interest rate on these...
If the tax-exempt status of municipal bonds were abolished, how would the interest rate on these bonds change? How would the interest rate on US treasury bonds change? Use graphs to explain the changes in both markets
What are three FEDERAL documents in which tax-exempt organizations are REQUIRED to disclose to the public?...
What are three FEDERAL documents in which tax-exempt organizations are REQUIRED to disclose to the public? List three characteristics of Gen Z which were described in the video, "Gen Z in the Workforce" and also explain why you agree or disagree with the characteristics described in the video. "Regular" volunteers are volunteers which essentially fill the role of a staff position, but are not paid, employees. An example might be a volunteer driver for Meals on Wheels.
6. What are the benefits of being not for profit/tax-exempt? What are some of the benefits...
6. What are the benefits of being not for profit/tax-exempt? What are some of the benefits of being for profit?
Are there any taxes that nonprofit organizations are not exempt for?
Are there any taxes that nonprofit organizations are not exempt for?
Employment-related health insurance is effectively subsidized by ____________ because of its tax-exempt status. Group of answer...
Employment-related health insurance is effectively subsidized by ____________ because of its tax-exempt status. Group of answer choices the government the private sector the employer the employee
Tax-Exempt status for healthcare institutions provide certain benefits as a not-for-profit enterprise. Discuss the rationale, community...
Tax-Exempt status for healthcare institutions provide certain benefits as a not-for-profit enterprise. Discuss the rationale, community benefits and the Judicial, IRS, and Legislative challenges organizations face today to maintain their ‘tax-exempt” designation.  
What reasons may cause a 501(c)(3) public charity to lose its tax-exempt status? What is the...
What reasons may cause a 501(c)(3) public charity to lose its tax-exempt status? What is the process of for an organization to regain its tax-exempt status once it is lost?
2. A social club that was classified as being tax exempt under Code Section 501(c)(7) had...
2. A social club that was classified as being tax exempt under Code Section 501(c)(7) had taxable unrelated business income derived from dividends on investments. Can the social club claim the dividends received deduction allowed by Code Sec. 243 against the income? § 243; §512
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT