Even Though a Church Is Exempt Under § 501(c)(3), It

question 47

True/False

Even though a church is exempt under § 501(c)(3), it is required to obtain IRS approval for its exempt status.

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Definitions:

Section 5

Could refer to a specific part of a law or statute, needing further context to accurately define; generally, it's used to denote a particular subsection of legal documentation.

FTC Act

The Federal Trade Commission Act, a law that established the FTC and aims to prevent unfair competition, and deceptive or unfair business practices.

Deception

The act of misleading or concealing the truth to manipulate or cheat, which can be both socially and legally punishable.

Magnuson-Moss Act

A federal law enacted in 1975 aimed at improving consumer protections and warranties on household products and automobiles.