September 29, 2005
IRS Issues Proposed Rules on Benefits, Tax Status
The Internal Revenue Service has released proposed regulations designed to explain when it should revoke the tax exemption of a charity whose officials were already in trouble for receiving excessive benefits from the organization.
In 1996, the federal government enacted a law that gave the IRS the authority to fine charity officials for receiving salaries and other benefits that are excessive, rather than revoking the tax-exempt status of the organizations themselves. The statute is
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