The IRS can impose intermediate sanctions on a public charity if its gross unrelated business income exceeds

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The IRS can impose intermediate sanctions on a public charity if its gross unrelated business income exceeds 50% of its gross income or if less than two-thirds of its net unrelated business income is used in carrying out its tax-exempt mission. Evaluate this statement.
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South Western Federal Taxation 2015

ISBN: 9781305310810

38th Edition

Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young

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