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KNOWLEDGE CHECK

Technical
Tax & regulatory

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* Which is true regarding a Section 501(c)(3) public charity’s federal income tax exemption?

Exempt organizations are exempt from all federal taxes.

An exempt organization cannot generate a profit.

Tax-exempt status may be revoked by the IRS if there is inurement.

Investment income of an exempt organization is normally taxable.

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Technical Tax & regulatory

Technical Tax & regulatory

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Technical
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