U.S. Department of the Treasury's Proposals to Improve Compliance by Tax-exempt Organizations: Hearing Before the Subcommittee on Oversight of the Committee on Ways and Means, House of Representatives, One Hundred Third Congress, Second Session, March 16, 1994, Volume 4
United States, United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight
U.S. Government Printing Office, 1994 - Government publications - 62 pages
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abuses accountability activities addition agree amount apply appropriate Assistant believe cause Chairman PICKLE changes charitable organizations Code Committee compensation concern CONGRESS THE LIBRARY consideration considered copies correction Department determination disclosure discussed effective enforcement example excess benefit excise tax exempt organizations fact Form given going hearing HOUGHTON House imposed income independent individuals insider interest intermediate sanction Internal Revenue Internal Revenue Code inurement involved issue LIBRARY OF CONGRESS limited lobbying manager Means measures NSFRE Office organization's Oversight payment penalty percent person position present private foundation procedures prohibition proposal public charities questions reasonable receive recommendations regarding regulations Representatives response result revocation rules SAMUELS self-dealing serve Service specific standards statement Subcommittee substantial suggest tax laws tax-exempt organizations taxable transactions transfer Treasury Treasury's types violation Washington
Page 16 - ASSISTANT SECRETARY (TAX POLICY) DEPARTMENT OF THE TREASURY BEFORE THE SUBCOMMITTEE ON SELECT REVENUE MEASURES COMMITTEE ON WAYS AND MEANS US HOUSE OF REPRESENTATIVES Mr.
Page 29 - For purposes of this section, the term "trade or business" includes any activity which is carried on for the production of income from the sale of goods or the performance of services.
Page 29 - ... unrelated business taxable income if: (1) It is income from trade or business; (2) such trade or business is regularly carried on by the organization; and (3) the conduct of such trade or business is not substantially related (other than through the production of funds) to the organization's performance of its exempt functions.
Page 18 - For purposes of paragraph (1), the term 'substantial contributor' means any person who contributed or bequeathed an aggregate amount of more than $5,000 to the private foundation, if such amount is more than 2 percent of the total contributions and bequests received by the foundation before the close of the taxable year of the foundation in which the contribution or bequest is received by the foundation from such person. In the case of a trust, the term 'substantial contributor' also means the creator...
Page 29 - related" to exempt purposes, in the relevant sense, only where the conduct of the business activities has causal relationship to the achievement of exempt purposes (other than through the production of income); and it is "substantially related," for purposes of section 513, only if the causal relationship is a substantial one.
Page 9 - ... purposes, but does not apply to any club if any part of its net earnings inures to the benefit of any private shareholder. In general, this exemption extends to social and recreation clubs which are supported solely by membership fees, dues, and assessments. However, a club...
Page 16 - ... participate in, or intervene in, any political campaign on behalf of (or in opposition to) any candidate for public office.
Page 16 - ... (g) Any group shall be eligible for financial assistance pursuant to this section only if (1) no part of its net earnings inures to the benefit of any private stockholder or stockholders, or individual or individuals, and (2) donations to such group are allowable as a charitable contribution under the standards of subsection (c) of section 170 of the Internal Revenue Code of 1954.