All Exempt Organizations Which Are Subject to the Unrelated Business

question 99

True/False

All exempt organizations which are subject to the unrelated business income tax must file Form 990-T (Exempt Organization Business Income Tax Return).

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Definitions:

Contractual Duty

Obligations that a party is legally bound to perform under a contract.

Debt Collector

A person or company tasked with collecting money owed on past due accounts from debtors.

Original Terms

The initial conditions and stipulations as set forth in an agreement or contract, before any amendments or modifications.

Creditor Beneficiary

A third party that benefits from a contract, particularly in contexts where the promisee's intention is to pay a debt to the beneficiary.