The International Association of Accountants (IAA), a labor union, made a one-time donation to a political candidate
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The International Association of Accountants (IAA), a labor union, made a one-time donation to a political candidate who is also a member of the organization. In addition, the IAA publicly endorsed the member candidate through flyers mailed to its membership. Which of the following is true about the IAA exempt status?
a. The IAA is entitled to exempt status because IRC § 501(c) specifically allows labor unions to be exempt.
b. The IAA is entitled to exempt status because the candidate it supported is a member of the union.
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a The IAA is entitled to exempt status because IRC 501c specific...View the full answer
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Related Book For 
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st Edition
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
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